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2118 Montclair Lane Lewisville, TX 75067

3 Beds 2 Baths 1,372 sqft Built 1994

$260,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $189.50
  • 4 Days on Market
  • MLS # : 14477928
  • Updated Date : 12/03/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,372 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

So many features wrapped up in this beautifully maintained one-story home! Hardwood flooring throughout the home leads into cozy kitchen overlooking spacious main living area. Master bath was recently renovated with walk-in shower and furniture-style cabinetry, custom tile. Split bedrooms leave plenty of privacy for master retreat. Living room gives way to shaded flagstone patio overlooking greenbelt and perfect for outdoor relaxation. Newly installed siding with 30-year warranty, new hot water heater, new above-range microwave, radiant barrier in attic. Easy access to I-35, 121, 635 and D-FW Airport. Make this house your new home! Seller would like a 30-day leaseback. Showings start Friday, Dec. 4 at 4 pm.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$959
Property Tax -$448
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$53

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.

$260,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,557

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6003$1,6254$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2118 Montclair Lane Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.14
    •  
  • 726 Red Oak Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1985
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 569 Continental Drive Lewisville, TX 3
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.14
    •  
  • 1121 Seneca Place Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1987
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 2075 Briarcliff Road Lewisville, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tanya Rutledge
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477928
Last Updated: 12/03/2020
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