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2016 Ledgestone Drive Corinth, TX 76210

4 Beds 3 Baths 2,551 sqft Built 2003

$319,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $125.40
  • 3 Days on Market
  • MLS # : 14468839
  • Updated Date : 11/14/2020 at 10:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,551 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

*Multiple offers received, deadline is Saturday the 14th at 8pm*Location, Location, Location! This gorgeous 4 bedroom 3 bathroom is ready for you! Beautifully well maintained and loved home is move in ready. Large open great room with great flow from the kitchen is perfect for entertaining and sharing quality family time. Large closets and storage under the stairs is an amazing bonus. Upstairs master, two bedroom, full bath and game or loft area allows for private areas to remain private from the social sharing spaces downstairs.

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: Windsor Ridge at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Windsor Ridge at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10312213

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,180
Property Tax -$647
Property Insurance -$175
HOA -$45
Property Management Fees -$99
CASH FLOW
-$15

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

$2,130

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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

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 60% 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

4.25

YEARS SAVED

$15,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1303$2,1504$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 2016 Ledgestone Drive Corinth, TX 2
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.83
    •  
  • 2212 Knob Hill Drive Corinth, TX 1
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1998
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
  • 1724 Tealwood Lane Corinth, TX 3
    • 4 beds 2 baths ∙ 2,401 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,401 Sqft ∙ Built 1999
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 1119 Postwood Drive Corinth, TX 4
    • 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1999
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
  • 6633 Alderbrook Drive Denton, TX 5
    • 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Chrissy Mallouf
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468839
Last Updated: 11/14/2020
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