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2301 Willow Garden Drive Little Elm, TX 75068

4 Beds 4 Baths 3,300 sqft Built 2021

$483,414

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $146.49
  • 6 Days on Market
  • MLS # : 14520877
  • Updated Date : 02/24/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,300 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready May 2021! Media Room, Rear covered patio, additional bath. The Cedar’s curved staircase is the centerpiece of this sprawling open-concept. Upstairs, the game room affords endless possibilities. Enjoy all that lake life has to offer in this prime location just minutes from Lewisville Lake. Nearby schools are part of the sought-after Little Elm ISD and some of the best in the area. Shopping, entertainment, and employment centers are all a short drive away. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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

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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
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
 

$435,073$531,755$483,414

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,679
Property Tax -$1,016
Property Insurance -$218
HOA -$56
Property Management Fees -$99
CASH FLOW
-$258

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$483,414

PROJECTED PRICE

$2,810

PROJECTED RENT

0.58%

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) 3.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$130,105

INVESTMENT

$130,105

Down Payment
$120,854
Rehab Estimate
$2,000
Closing Costs
$7,251

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,854
Loan Amount $362,561
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,794

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,7503$2,7754$2,810
$2,810
RENT COMPS ANALYSIS
  • 2301 Willow Garden Drive Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.85
    •  
  • 3404 Varsity Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 2015
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.70
    •  
  • 9820 Forester Trail Oak Point, TX 2
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 9804 Excursion Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520877
Last Updated: 02/24/2021
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