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2308 Pecan Drive Little Elm, TX 75068

4 Beds 3 Baths 2,611 sqft Built 2000

$300,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $114.90
  • 3 Days on Market
  • MLS # : 14540826
  • Updated Date : 03/27/2021 at 22:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Welcome to this lovely two-story home with close proximity to the neighborhood pond, walking trail & pool! Conveniently located near shopping, dining, golf courses, & parks and just minutes away from Lewisville Lake, adorable downtown Frisco, RoughRiders baseball stadium & Toyota Soccer center. Updated paint, fresh carpet & refinished hardwoods. The large dining area is perfect for an office space or entertaining. Gather around the breakfast bar open to the eat-in nook & living area with gas fireplace. Private owner’s suite with gorgeous bathroom updates. Upstairs you’ll find 3 oversized bedrooms and game room with an updated bathroom. Large backyard with covered patio & private board on board fence. Roof 2018.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: The Villages of Woodlake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: The Villages of Woodlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11162171

* 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
Lakeview Elementary School Primary Regular 581 38 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,042
Property Tax -$629
Property Insurance -$178
HOA -$29
Property Management Fees -$99
CASH FLOW
$23

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.

$300,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9703$1,9754$2,0005$2,030
$2,030
RENT COMPS ANALYSIS
  • 2308 Pecan Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 1884 Barton Springs Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2002
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 2240 Bradford Pear Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2000
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.76
    •  
  • 2329 Basswood Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2001
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.76
    •  
  • 2405 Texoma Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2000
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
PROPERTY LISTING DETAILS
Savannah Dunn
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540826
Last Updated: 03/27/2021
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