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2009 Terracotta Court Lewisville, TX 75067

3 Beds 2 Baths 2,021 sqft Built 1992

$319,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $158.29
  • 2 Days on Market
  • MLS # : 14488268
  • Updated Date : 12/19/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Located in the heart of Lewisville, this well-kept home is accessible to everything! Kitchen has updated stainless steel appliances, including double ovens, granite counters, and a one third-two third graphite sink. High vaulted ceilings in family room make this floorplan open and inviting. All baths and kitchen have granite, Master bedroom is Texas-sized with an adjacent living area, which is perfect for both an office and 2nd TV room, Master bath even offers a jetted tub. Storm doors, solar screens, 8 foot fence, newer roof and HVAC systems, inclduing a bluetooth system for turning AC down remotely are just a few of the extras! Come take a look, nice home for the money!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Indian Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Indian Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Parkway Elementary School Primary Regular 542 42 5
Hedrick Middle School Middle Regular 672 56 4
Lewisville High School Harmon Campus High Regular NA

Parkway Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 42
5
GreatSchools Rating

Hedrick Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 56
4
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,180
Property Tax -$552
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$25

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.

$319,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0003$2,0004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2009 Terracotta Court Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 2021 Woven Trail Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1991
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.04
    •  
  • 2041 Wanderlust Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 1201 Pleasant Oaks Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 1996
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 1149 Valley Oaks Drive Lewisville, TX 5
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1996
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kathy Kiefer
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 #: 14488268
Last Updated: 12/19/2020
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