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2228 Barx Drive Little Elm, TX 75068

4 Beds 3 Baths 2,850 sqft Built 2017

$349,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $122.77
  • 5 Days on Market
  • MLS # : 14532148
  • Updated Date : 03/20/2021 at 17:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

**WONDERFUL LITTLE ELM HOME** **WHY WAIT FOR NEW** **SOUGHT-AFTER VALENCIA ON THE LAKE** Do not pass by this gorgeous 2-story home with almost 3,000 sq. ft.Desirable floor plan, great for entertaining with tons of upgrades! LVP flooring through out first floor. Huge vaulted ceilings in LR. Two covered patios. Dream kitchen with large granite island space, plenty of cabinets, butlers pantry, WIC plus side covered courtyard patio right off kitchen. Formal DR. Front facing office with french doors! Large owner's retreat with bathroom suite including large shower with seat, WIC, dual sinks and garden soaking tub. Game room overlooking LR with additional space to be utilized. MUST CHECK OUT AMENITIES!! Hurry!!

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Lakeview Elementary School Primary Regular 581 38 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,215
Property Tax -$733
Property Insurance -$192
HOA -$38
Property Management Fees -$99
CASH FLOW
-$27

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.

$349,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.64%

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

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$12,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,415

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2503$2,3004$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 2228 Barx Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.79
    •  
  • 2800 Cattle Baron Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 2012
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.75
    •  
  • 2232 Barx Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,662 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,662 Sqft ∙ Built 2017
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 2217 Miramar Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2018
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.91
    •  
  • 2056 Meliana Drive Little Elm, TX 5
    • 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2020
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brian S. Curry
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532148
Last Updated: 03/20/2021
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