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218 Lanyard Drive Lewisville, TX 75057

3 Beds 4 Baths 1,894 sqft Built 2020

$344,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $182.10
  • 2 Days on Market
  • MLS # : 14501125
  • Updated Date : 01/16/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,894 sqft
  • Baths : 3 full , 1 half
Listing Agent

Texas Urban Living Realty

Listing Agent's Description

As Seen on House Hunters on HGTV!! A series of modern, affordable new construction homes are being built in the district. Tall ceilings, Fully inclusive customizable finishes and in the heart of a major revamp, Phase 3 now Available! There’s no other community in the area that compares to South Village in scale of design or Location. With the ease to come home, ask Alexa to turn off the lights, play your favorite songs and turn the heat up in one effortless command. Neighbors can effortlessly connect, hosting happy hours on their porches, practicing yoga on Main, Sunday afternoon enjoying the area’s latest restaurants and bars just outside of your door. Huge Lender incentives! This is a MUST SEE!

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

Zip Code: 75057

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Zip Code: 75057

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451939

* 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
Central Elementary School Primary Regular 975 66 2
Delay Middle School Middle Regular 984 75 3
Lewisville High School High Regular 1,987 117 5

Central Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 66
2
GreatSchools Rating

Delay Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 75
3
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$310,410$379,390$344,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,198
Property Tax -$595
Property Insurance -$137
HOA -$8
Property Management Fees -$99
CASH FLOW
-$107

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.

$344,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,399

INVESTMENT

$93,399

Down Payment
$86,225
Rehab Estimate
$2,000
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9253$1,9304$2,1255$2,125
$2,125
RENT COMPS ANALYSIS
  • 218 Lanyard Drive Lewisville, TX 3
    • 3 beds 4 baths ∙ 1,894 Sqft ∙ Built 2020 3 beds 4 baths ∙ 1,894 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.02
    •  
  • 203 Belleville Drive Lewisville, TX 1
    • 3 beds 4 baths ∙ 1,859 Sqft ∙ Built 2018 3 beds 4 baths ∙ 1,859 Sqft ∙ Built 2018
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 893 Witherby Lane Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2012
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.04
    •  
  • 619 Ava Trail Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.03
    •  
  • 615 Ava Trail Lewisville, TX 5
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shleah Scarborough
Texas Urban Living Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501125
Last Updated: 01/16/2021
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