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216 Glenwood Drive Oak Point, TX 75068

3 Beds 2 Baths 2,071 sqft Built 2021

$383,322

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $185.09
  • 7 Days on Market
  • MLS # : 14506003
  • Updated Date : 01/26/2021 at 10:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,071 sqft
  • Baths : 2 full
Listing Agent

Alexander Properties

Listing Agent's Description

MLS#14506003 Ready March! You will get plenty of elbow room with the expansive open gathering area which is ideal for relaxing with family or friends. The kitchen and casual dining nook overlook the gathering area and covered patio. As you enter the home, hard surface floors flow throughout the living areas. 2 bedrooms on the front of the home with a shared bath. 3 car tandem garage. Spacious Master Bedroom invites you to relax in comfort. With 3 bedrooms and 2 full bathrooms, the Chambray accommodates family life beautifully. Structural options added to 216 Glenwood Dr include: Gourmet kitchen 2, extended owner's suite, raised ceiling in foyer, gathering room, owner's suite. REPRESENTATIVE PHOTOS ADDED!

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: Rocky Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k355k

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

Neighborhood: Rocky Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10672171

* 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
 

$344,990$421,654$383,322

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,331
Property Tax -$804
Property Insurance -$147
HOA -$104
Property Management Fees -$99
CASH FLOW
-$705

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$383,322

PROJECTED PRICE

$1,780

PROJECTED RENT

0.46%

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) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,580

INVESTMENT

$103,580

Down Payment
$95,831
Rehab Estimate
$2,000
Closing Costs
$5,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,331

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,831
Loan Amount $287,492
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$25

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7804$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 216 Glenwood Drive Oak Point, TX 3
    • 3 beds 2 baths ∙ 2,071 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,071 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.86
    •  
  • 9124 Wellington Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 3433 Fashion Street Little Elm, TX 2
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 3432 Fashion Street Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 312 Sheridan Road Oak Point, TX 5
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2008
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Bobbie Alexander
Alexander Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506003
Last Updated: 01/26/2021
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