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2108 Amherst Drive Lewisville, TX 75067

3 Beds 3 Baths 2,107 sqft Built 1994

$305,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $144.76
  • 5 Days on Market
  • MLS # : 14461583
  • Updated Date : 10/30/2020 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,107 sqft
  • Baths : 2 full , 1 half
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

Beautifully maintained 2 Story Lewisville home in desirable convenient location in quiet neighborhood. Features 3 bed + 2.5 baths + Game Room! PLUS an updated kitchen open to the living area with Granite countertops, Stainless Steel appliances, wood cabinets and large island! The interior includes laminate floors throughout, new paint, updated stairway and fireplace, The large master bathroom includes a separate shower, garden tub, 2 sinks, and walk-in closet.

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: Willow Grove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Willow Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10592171

* 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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,125
Property Tax -$526
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$51

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.

$305,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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-$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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,002

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9504$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 2108 Amherst Drive Lewisville, TX 5
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 944 Golden Grove Drive Lewisville, TX 1
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 1994
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 2115 Camelot Drive Lewisville, TX 2
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1997
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 940 Valley View Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1995
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 2078 Belvedere Drive Lewisville, TX 4
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1995
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alessandra Parrish
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461583
Last Updated: 10/30/2020
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