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2001 Stevenson Lane Flower Mound, TX 75028

4 Beds 4 Baths 3,502 sqft Built 1997

INVESTimate

$400,000

List Price

$2,950

$2,700 - $3,200

Rent Est.

$427,320  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $114.22
  • 8 Days on Market
  • MLS # : 14416757
  • Updated Date : 08/25/2020 at 16:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,502 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Stunning two story in home in desirable Flower Mound neighborhood! Home is nestled on lot next to greenbelt area ideal for outdoor activities! Home opens to front office that flows into large living and dining area with soaring ceilings and tons of natural light! Additional living area with fireplace overlooks kitchen with island and breakfast nook! Master suite downstairs features separate shower, tub, and walk in closet! Upstairs features large game room, three bedrooms, and two full bathrooms! One bedroom features additional storage room in closet! Backyard features covered pergola patio idea for relaxing! Great location near schools, shopping, and more! This is a MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Neighborhood: Chaucer Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k408k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Chaucer Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262708

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Prairie Trail Elementary School Primary Regular 609 41 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Prairie Trail Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,476
Property Tax -$753
Property Insurance -$230
HOA -$54
Property Management Fees -$99
CASH FLOW
$338

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$56,268

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,950

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,985

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,9003$2,9504$2,9505$3,200
$3,200
RENT COMPS ANALYSIS
  • 2001 Stevenson Lane Flower Mound, TX 4
    • 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.84
    •  
  • 2125 Bishop Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,245 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,245 Sqft ∙ Built 1999
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
  • 1405 Glen Hollow Lane Flower Mound, TX 2
    • 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2001
    property image
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.87
    •  
  • 1905 Annabel Avenue Flower Mound, TX 3
    • 5 beds 4 baths ∙ 3,640 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,640 Sqft ∙ Built 2004
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.81
    •  
  • 617 Meadowcrest Drive Highland Village, TX 5
    • 5 beds 4 baths ∙ 3,531 Sqft ∙ Built 1990 5 beds 4 baths ∙ 3,531 Sqft ∙ Built 1990
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kurt Buehler
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416757
Last Updated: 08/25/2020
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