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2309 Waterstone Trail Flower Mound, TX 75028

3 Beds 4 Baths 3,369 sqft Built 2014

INVESTimate

$519,000

List Price

$2,950

$2,700 - $3,200

Rent Est.

$554,448  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $154.05
  • 7 Days on Market
  • MLS # : 14409590
  • Updated Date : 08/20/2020 at 22:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,369 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jay Marks Real Estate

Listing Agent's Description

Beautiful curb appeal thanks to the gated courtyard entrance, lush landscaping, and wood shutters. Downstairs are a formal dining room, an office with French doors for privacy, an open kitchen and living area, and the Master Suite. The island kitchen offers abundant storage, granite counters, and a gas cooktop. The Master Suite includes its own private sitting nook, lots of cabinet storage, a large soaking tub, and dual vanities. Upstairs is a bonus room with an attached storage room offering plenty of room to be an at-home learning center, a game room, or another office. Plenty of room on the covered back patio to sit and read a book, entertain, and grill. Welcome home!

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: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Prairie Trail Elementary School Primary Regular 609 41 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Prairie Trail Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$467,100$570,900$519,000

PURCHASE PRICE

$2,655$3,245$2,950

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,915
Property Tax -$896
Property Insurance -$222
HOA -$46
Property Management Fees -$99
CASH FLOW
-$228

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.

$519,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,285

INVESTMENT

$143,285

Down Payment
$129,750
Rehab Estimate
$5,750
Closing Costs
$7,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,750
Loan Amount $389,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,998

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7953$2,8504$2,9505$3,100
$3,100
RENT COMPS ANALYSIS
  • 2309 Waterstone Trail Flower Mound, TX 4
    • 3 beds 4 baths ∙ 3,369 Sqft ∙ Built 2014 3 beds 4 baths ∙ 3,369 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
  • 2125 Bishop Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,245 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,245 Sqft ∙ Built 1999
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
  • 2305 Conroe Court Flower Mound, TX 2
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.92
    •  
  • 1800 Morning Mist Trail Flower Mound, TX 3
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.92
    •  
  • 706 Live Oak Highland Village, TX 5
    • 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jay Marks
Jay Marks Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409590
Last Updated: 08/20/2020
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