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2276 Riviera Drive Little Elm, TX 75068

4 Beds 3 Baths 3,353 sqft Built 2012

INVESTimate

$440,000

List Price

$2,330

$2,097 - $2,563

Rent Est.

$472,516  ( +7.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $131.23
  • 7 Days on Market
  • MLS # : 14415109
  • Updated Date : 08/24/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,353 sqft
  • Baths : 3 full
Listing Agent

Savvy Way Realty, Inc

Listing Agent's Description

Executive Reserve at Lakeview Sunset Pointe! BEAUTIFUL 4 BDM 2-story home is situated 3 houses from elementary with HUGE BACK YARD! Front views of CoE land! 4 BEDROOMS-PRIMARY DOWNSTAIRS,3 FULL BATHROOMS plus office study, media, 3-CAR GARAGE, wood tile floors throughout 1st floor, open 2 story family room, huge primary suite, separate shower, large tub! Spacious & bright gourmet kitchen with huge island, granite counters, stainless steel appliances! Community playgrounds, pools, and stocked ponds.

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: Sunset Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Sunset Pointe

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
Robertson Elementary School Primary Regular 757 45 9
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Robertson Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
9
GreatSchools Rating

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,623
Property Tax -$922
Property Insurance -$221
HOA -$50
Property Management Fees -$99
CASH FLOW
-$586

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.

$440,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$78

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,464

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3303$2,4454$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 2276 Riviera Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 3,353 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,353 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.69
    •  
  • 2732 Costa Mesa Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 2621 Frances Lane Little Elm, TX 3
    • 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2013
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.75
    •  
  • 829 Mist Flower Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 2596 Largo Lane Little Elm, TX 5
    • 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
PROPERTY LISTING DETAILS
Will Puente
Savvy Way Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415109
Last Updated: 08/24/2020
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