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2208 Gregory Creek Drive Little Elm, TX 75068

5 Beds 3 Baths 3,262 sqft Built 2014

$380,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $116.49
  • 3 Days on Market
  • MLS # : 14519407
  • Updated Date : 03/19/2021 at 11:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

An amazing opportunity in a great community in Little Elm. Close to LAKES, SCHOOLS, COMMUNITY POOLS, & PLAY GROUNDS. Open floor plan with great natural lighting. Eat-in kitchen w' Granite, Island, SS appliances and great storage space. First floor Owner's Suite boast His & Her Vanities, Separate shower, Jetted tub, and a stunning custom closet. Second floor offers game room & 4 bedrooms. Current owners are using one bedroom as a media room. Spacious private backyard.

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

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,320
Property Tax -$797
Property Insurance -$216
HOA -$28
Property Management Fees -$99
CASH FLOW
-$199

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.

$380,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,226

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,1953$2,2504$2,2605$2,280
$2,280
RENT COMPS ANALYSIS
  • 2208 Gregory Creek Drive Drive Little Elm, TX 4
    • 5 beds 3 baths ∙ 3,262 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,262 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.69
    •  
  • 1932 Abby Creek Drive Little Elm, TX 1
    • 5 beds 4 baths ∙ 3,263 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,263 Sqft ∙ Built 2015
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.67
    •  
  • 2508 Jill Creek Drive Little Elm, TX 2
    • 4 beds 4 baths ∙ 3,271 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,271 Sqft ∙ Built 2015
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.67
    •  
  • 1900 Abby Creek Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 2015
    property image
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.69
    •  
  • 2208 Eppright Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 3,257 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,257 Sqft ∙ Built 2013
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.70
    •  
PROPERTY LISTING DETAILS
Tracy Wilson
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519407
Last Updated: 03/19/2021
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