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2312 Channing Court Flower Mound, TX 75028

3 Beds 4 Baths 2,754 sqft Built 1985

$400,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.24
  • 3 Days on Market
  • MLS # : 14496730
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,754 sqft
  • Baths : 2 full , 2 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Gorgeous light & bright home with pool on private cul-de-sac lot overlooking The Flower Mound! Many updates! Wood floors! Fireplace! Family Rm w French doors looking out to pool! White kitchen w granite counters & SS appls overlooks Breakfast Room w views out to pool-patio. Dining Rm w bltins. All 3 spacious BRs located upstrs w large media-game room that can also be used as 4th BR. Principal BR has ensuite bath w 2 sinks, sep.shower & garden tub. Bonus room down off kitchen-perfect for office, playrm, walkin pantry or mudroom. Pool Bath. Lushly landscaped yard w large covered patio, diving pool & separate spa perfect for entertaining! Beautiful views out to The Flower Mound! Desirable FM schools! This is HOME!

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

Neighborhood: Lake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Lake Forest

NeighborhoodNIR 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
Donald Elementary School Primary Regular 497 36 7
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Donald Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 36
7
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,389
Property Tax -$691
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
$125

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.

$400,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$29,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,5003$2,5954$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2312 Channing Court Flower Mound, TX 1
    • 3 beds 4 baths ∙ 2,754 Sqft ∙ Built 1985 3 beds 4 baths ∙ 2,754 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.90
    •  
  • 2820 Stanford Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 2900 Meadow Green Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 2501 Stanford Drive Flower Mound, TX 4
    • 3 beds 2 baths ∙ 2,693 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,693 Sqft ∙ Built 1988
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 2113 Beechwood Lane Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1994
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jason Clay Haugen
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496730
Last Updated: 01/15/2021
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