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2104 Lake Cliff Drive Little Elm, TX 75068

3 Beds 2 Baths 2,033 sqft Built 2017

$319,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $157.35
  • 4 Days on Market
  • MLS # : 14521384
  • Updated Date : 03/04/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,033 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate, Winans

Listing Agent's Description

Pristine DR Horton with perfect Floorplan! Welcome into Bright and Beautiful with clean tile floors and minimal carpet. Office with French doors is flex space. Chefs Dream with an Open Kitchen with white cabinets, granite, huge island and stainless appliances. Best Feature to find is an Extra Office Nook and desk space! Split rooms keeps master private and a place to relax. Family room with great windows has surround sound that flows to outside patio. Relax with some iced tea on this covered porch and grassy backyard. Paloma Creek offers amazing amenities with several pools, walking trails, club houses , work out and much more! Come move where the action is and be close to the Lake!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,111
Property Tax -$729
Property Insurance -$145
HOA -$28
Property Management Fees -$99
CASH FLOW
-$272

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

$1,840

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,038

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8803$1,9954$1,9955$2,095
$2,095
RENT COMPS ANALYSIS
  • 2104 Lake Cliff Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 2108 Lake Pine Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.01
    •  
  • 921 Lake Cypress Lane Little Elm, TX 3
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 2125 Lake Hawthorne Trail Little Elm, TX 4
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2018
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 916 Lake Sierra Way Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2017
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.04
    •  
PROPERTY LISTING DETAILS
Kristen Mackey
Better Homes And Gardens Real Estate, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521384
Last Updated: 03/04/2021
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