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2290 Prairie Wind Path Lewisville, TX 75056

4 Beds 3 Baths 2,170 sqft Built 2015

$435,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $200.46
  • 4 Days on Market
  • MLS # : 14510372
  • Updated Date : 02/04/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,170 sqft
  • Baths : 3 full
Listing Agent

Hometiva

Listing Agent's Description

Spacious and beautiful 4 Bed 3 Bath single story open-plan home with crown molding and custom 8ft doors throughout. Hardwood floors in entryway, dining areas, kitchen, and family room. A modern kitchen with an island layout, granite counter tops, dual stainless steel sink, gas cooktop & double-oven. The kitchen opens to a spacious family room with fireplace. Large master suite, relaxing jetted spa soaking tub, double vanities and walk-in shower. Backyard offers a large covered patio, perfect for family BBQs and entertaining! Fiber high speed internet! All of this in an amazing location 10 minutes from Legacy West, HQ hubs & DFW airport. Walking distance to neighborhood pool & park. Come see this home 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

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75056

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
Independence Elementary School Primary Regular 790 51 5
Killian Middle School Middle Regular 950 65 7
Hebron High School High Regular 2,458 138 7

Independence Elementary School

  • Education Level: Primary
  • # of students: 790
  • # of teachers: 51
5
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
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,511
Property Tax -$750
Property Insurance -$153
HOA -$47
Property Management Fees -$99
CASH FLOW
-$119

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.

$435,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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-$5.0k$0.0$5.0k$10k

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,392

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,4404$2,4505$2,450
$2,450
RENT COMPS ANALYSIS
  • 2290 Prairie Wind Path Lewisville, TX 3
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.12
    •  
  • 2296 Prairie Wind Path Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 290 Almanor Street Lewisville, TX 2
    • 3 beds 4 baths ∙ 2,079 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,079 Sqft ∙ Built 2017
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.15
    •  
  • 2404 Hardrock Castle Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.07
    •  
  • 2725 Cole Castle Drive Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tabor Campbell
Hometiva
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510372
Last Updated: 02/04/2021
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