Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

203 Carrington Lane Lewisville, TX 75067

3 Beds 3 Baths 2,317 sqft Built 2011

$335,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $144.58
  • 3 Days on Market
  • MLS # : 14494313
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,317 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Low maintenance with high finishes that you're looking for? Fall in LOVE with this well maintained open concept patio home. Handscraped hardwood floors, crown molding & high baseboards give elegance to each room throughout 1st floor in social areas. Living & Dining open to the kitchen equipped with SS appliances, granite counters, W-I pantry & large island. Private Master down, plus a half bath for guests. Large Game room upstairs with plenty of natural light, plus 2 bedrooms & 1 full bath. Enjoy the privacy of the side yard, and epoxy at the 2-car garage. Home is located near shops, restaurants and access to major roads: I35E, Hwy 121, George Bush Toll & Sam Rayburn Toll Roads, DFW Airport approx 8 mi away.

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: Carrington Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $122k334k

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

Neighborhood: Carrington Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262247

* 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
Southridge Elementary School Primary Regular 692 53 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Southridge Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 53
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

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

$301,500$368,500$335,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,164
Property Tax -$578
Property Insurance -$161
HOA -$96
Property Management Fees -$99
CASH FLOW
-$17

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.

$335,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.2%
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$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0804$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 203 Carrington Lane Lewisville, TX 3
    • 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.90
    •  
  • 409 Ridge Point Drive Lewisville, TX 1
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 1997
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 409 Ridge Meade Drive Lewisville, TX 2
    • 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1997
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 400 Valley View Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1999
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.92
    •  
  • 236 Wallington Way Lewisville, TX 5
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2008
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Livia Pepe
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494313
Last Updated: 01/15/2021
BESbswy