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2238 Stonehenge Lane Lewisville, TX 75056

5 Beds 4 Baths 3,832 sqft Built 2004

$585,000

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $152.66
  • 3 Days on Market
  • MLS # : 14448160
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,832 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Stunning home in highly sought after Castle Hills! Gorgeous 5 bdrm 4 bth w tons of upgrades. Spacious family rm w stone FP and view to backyard paradise which includes: covered patio w outdoor kitchen and sparkling saltwater heated pool and jacuzzi! Updated garage door with electric gate that encloses driveway. Perfect for kids to play! Lg master downstairs. Mstr ste features H+H sinks, sep shower, jetted tub, WIC & sitting area. Upstairs offers 3 bdrms, 2 full baths media & gmrm. All bedrooms have WICs! Hardwoods up and downstairs. Recently replaced 2 AC units, 2 water heaters, and roof. Chefs kitchen w granite, breakfast bar, SS appliances, custom cabinets, island w gas cooktop & walk-in pantry.

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: Castle Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Castle Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Castle Hills Elementary School Primary Regular 734 48 10
Killian Middle School Middle Regular 950 65 7
Hebron High School High Regular 2,458 138 7

Castle Hills Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 48
10
GreatSchools Rating

Killian Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 65
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$2,158
Property Tax -$1,009
Property Insurance -$249
HOA -$67
Property Management Fees -$99
CASH FLOW
-$151

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.

$585,000

PROJECTED PRICE

$3,430

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$20,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,525

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,395
1$3,3952$3,4303$3,6004$3,6005$3,850
$3,850
RENT COMPS ANALYSIS
  • 2238 Stonehenge Lane Lewisville, TX 2
    • 5 beds 4 baths ∙ 3,832 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,832 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $0.90
    •  
  • 412 Water Bridge Drive Lewisville, TX 1
    • 5 beds 4 baths ∙ 3,975 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,975 Sqft ∙ Built 2008
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.85
    •  
  • 2336 Lady Cornwall Drive Lewisville, TX 3
    • 4 beds 4 baths ∙ 3,809 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,809 Sqft ∙ Built 2006
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.95
    •  
  • 910 Ontzlake Drive Lewisville, TX 4
    • 4 beds 4 baths ∙ 3,833 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,833 Sqft ∙ Built 2014
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.94
    •  
  • 2254 Magic Mantle Drive Lewisville, TX 5
    • 5 beds 4 baths ∙ 4,110 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,110 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Maria Mcneil
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14448160
Last Updated: 11/01/2020
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