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2008 Raven Lane Lewisville, TX 75077

3 Beds 2 Baths 1,249 sqft Built 1993

$234,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $188.07
  • 4 Days on Market
  • MLS # : 14508267
  • Updated Date : 01/28/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,249 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Gorgeous one story home in desirable Lewisville neighborhood! Great location near food, shopping, and entertainment! Home opens to large kitchen and breakfast room, and flows into large living room with gas fireplace, built in bookshelf, and skylights! Master suite with backyard access features remodeled bathroom! Additional two bedrooms, full bath, & two car garage! Great backyard with slab open patio perfect for relaxing! This home is A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hunters Glen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $92k290k

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

Neighborhood: Hunters Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9631939

* 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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$816
Property Tax -$405
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$19

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$234,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,396

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 2008 Raven Lane Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
  • 2039 Mallard Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1987
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.13
    •  
  • 1905 Teton Trail Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1985
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
  • 2040 Raven Lane Lewisville, TX 4
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 2036 Cardinal Lane Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1998
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
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 #: 14508267
Last Updated: 01/28/2021
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