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PROPERTY INFO
FACTS
- Single Family
- Built In 1986
- Price/Sqft : $181.86
- 5 Days on Market
- MLS # : 14490070
- Updated Date : 12/26/2020 at 15:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,194 sqft
- Baths : 2 full
Listing Agent
Lone Star Realty Group, Llc
Listing Agent's Description
Don't miss out!!!Over sized lot .30 acre of land on Cul de sac lot and home is adjacent to the beautiful and historic Flower Mound. Within walking distance to 3 of Flower Mounds finest schools. Formal living and Dining room, Updated kitchen counter tops. Open concept kitchen with breakfast bar and breakfast area adjacent to kitchen. Separate study - office. Very Private backyard space! Covered patio for outdoor entertaining with many big backyard trees!
SEE MORE
- . 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: Lake Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$1,472 |
| Property Tax | -$689 | |
| Property Insurance | -$154 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$134
|
||
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.
$399,000
PROJECTED PRICE
$2,280
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,485
LOAN DETAILS
$1,472
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,750 |
| Loan Amount | $299,250 |
3.33
YEARS SAVED
$13,298
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$1.04
LIST RENT PER SQFT
-
$2,391
COMP ESTIMATED VALUE -
$1.09
COMP AVG. RENT PER SQFT
Comps Range
-
2304 Carlisle Court Flower Mound, TX 2
- 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1986
- Rent
- Rent Per SQFT
- $2,280
- $1.04
-
2501 Springwater Drive Flower Mound, TX 1
- 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1992
LEASED 10/30/20- Rent
- Rent Per SQFT
- $2,275
- $1.11
-
2513 Springwater Drive Flower Mound, TX 3
- 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993
LEASED 10/13/20- Rent
- Rent Per SQFT
- $2,295
- $1.12
-
2204 Cypress Court Flower Mound, TX 4
- 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1990
LEASED 10/12/20- Rent
- Rent Per SQFT
- $2,400
- $1.07
-
2401 Lakeshore Drive Flower Mound, TX 5
- 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1993
LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,500
- $1.06
PROPERTY LISTING DETAILS
Lone Star Realty Group, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14490070
Last Updated: 12/26/2020
