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2078 Briarcliff Road Lewisville, TX 75067

3 Beds 2 Baths 1,620 sqft Built 1987

INVESTimate

$270,000

List Price

$1,730

$1,557 - $1,903

Rent Est.

$292,896  ( +8.48%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $166.67
  • 5 Days on Market
  • MLS # : 14418146
  • Updated Date : 08/24/2020 at 14:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Chase Realty Dfw

Listing Agent's Description

Welcome home to your updated, one story retreat that is ready for your best Autumn dreams. Step inside to soaring ceilings and wood floors to the open floor plan perfect for entertaining. Create your best masterpieces in the gorgeous kitchen featuring a breakfast bar, black appliances, coffee bar, Butlers Pantry, built in microwave, pantry, plus loads of cabinet and counter space. Gather around the wood burning fireplace for a movie night. The owners suite is ready for you to relax with a separate shower, dual sinks, and walk in closet. The backyard is your own personal oasis with ample shade from the mature trees, an open patio, lush landscaping - plus a large grassy area for gardening & football games.

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: Valley Vista

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Valley Vista

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$996
Property Tax -$466
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$48

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.

$270,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7303$1,7954$1,9255$1,950
$1,950
RENT COMPS ANALYSIS
  • 2078 Briarcliff Road Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.07
    •  
  • 983 Downey Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1987
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 2075 Briarcliff Road Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1987
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.16
    •  
  • 1024 Cassion Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1991
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.09
    •  
  • 2080 Sundance Court Lewisville, TX 5
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1986
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
PROPERTY LISTING DETAILS
Scott Wooley
Chase Realty Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418146
Last Updated: 08/24/2020
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