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2253 White Rock Lane Little Elm, TX 75068

3 Beds 3 Baths 2,909 sqft Built 2004

$347,262

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $119.38
  • 3 Days on Market
  • MLS # : 14496493
  • Updated Date : 01/08/2021 at 21:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,909 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Michael Group

Listing Agent's Description

Awesome home, conveniently located with easy access to shopping and major Highways, FM 423, Dallas North Tollway and Highway 80. Great recently updated , with newly Painted Interior, New Window Blinds, New Carpet and Gorgeous Granite counter tops. This house is just beautiful. You have got to see It

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Glen Cove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k308k

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

Neighborhood: Glen Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10571912

* 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
Brent Elementary School Primary Regular 627 40 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Brent Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 40
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
 

$312,536$381,988$347,262

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,206
Property Tax -$728
Property Insurance -$195
HOA -$28
Property Management Fees -$99
CASH FLOW
$44

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$347,262

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$12k$14k

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$97,774

INVESTMENT

$97,774

Down Payment
$86,816
Rehab Estimate
$5,750
Closing Costs
$5,209

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,816
Loan Amount $260,447
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,3004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 2253 White Rock Lane Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,909 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,909 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 2637 Pine Trail Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2007
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 2320 Leeward Place Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2015
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 2420 Greenbrook Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2005
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 517 Windward Drive Little Elm, TX 5
    • 3 beds 3 baths ∙ 2,752 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,752 Sqft ∙ Built 2016
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Chukwuemeka Okonkwo
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496493
Last Updated: 01/08/2021
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