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2218 Briary Trace Court Lewisville, TX 75077

4 Beds 3 Baths 3,675 sqft Built 1997

$424,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $115.62
  • 4 Days on Market
  • MLS # : 14504010
  • Updated Date : 01/21/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,675 sqft
  • Baths : 3 full
Listing Agent

Xpt Realty

Listing Agent's Description

MOVE IN READY!!!Beautiful home with 4 bedrooms 3 baths and separate study with built in cabinets and the game room on 2nd floor with lush landscaping and large Live Oak very well taken care of home in a great location. formal dining and living area, with a lot of natural light. Owner just recently refreshed the kitchen and bedrooms. wood flooring on 1st floor. Kitchen has a breakfast nook open living room creating a large comfortable environment. Great Size backyard. Come see today!

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: Highland Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k351k

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

Neighborhood: Highland Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262369

* 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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

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

$382,410$467,390$424,900

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,476
Property Tax -$733
Property Insurance -$240
Property Management Fees -$99
CASH FLOW
$133

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.

$424,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$30,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,729

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5503$2,6804$2,6995$2,950
$2,950
RENT COMPS ANALYSIS
  • 2218 Briary Trace Court Lewisville, TX 3
    • 4 beds 3 baths ∙ 3,675 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,675 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.73
    •  
  • 1512 Snow Trail Lewisville, TX 1
    • 5 beds 4 baths ∙ 3,456 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,456 Sqft ∙ Built 2004
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 1367 Emonton Drive Lewisville, TX 2
    • 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 1993
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.74
    •  
  • 1260 Winnipeg Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 3,492 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,492 Sqft ∙ Built 1996
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,699
    • $0.77
    •  
  • 2001 Dillon Court Flower Mound, TX 5
    • 4 beds 4 baths ∙ 4,011 Sqft ∙ Built 2007 4 beds 4 baths ∙ 4,011 Sqft ∙ Built 2007
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Obaid Akram
Xpt Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504010
Last Updated: 01/21/2021
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