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2328 Red Maple Road Flower Mound, TX 75022

4 Beds 3 Baths 2,005 sqft Built 1994

$330,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $164.59
  • 4 Days on Market
  • MLS # : 14461706
  • Updated Date : 11/07/2020 at 08:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Just in time for the holidays. This is a highly sought after location in the South of Flower Mound. Minutes to DFW Airport and easy access to both Dallas and Fort Worth. Outdoor enthusiast will surely appreciate beautiful nature at Grapevine Lake along with multiple trails and Parks, only a few blocks away. All Exemplary schools within a short walk or bike. Light and bright open floor plan with 2 Bedrooms downstairs and 3 full baths. This house is ready for a new owner.

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: Oaks of Lake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Oaks of 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
Old Settlers Elementary School Primary Regular 636 43 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 43
10
GreatSchools Rating

Mckamy Middle School

  • Education Level: Middle
  • # of students: 1,110
  • # of teachers: 69
10
GreatSchools Rating

Flower Mound High School

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

$297,000$363,000$330,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,218
Property Tax -$570
Property Insurance -$143
HOA -$13
Property Management Fees -$99
CASH FLOW
-$102

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.

$330,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,0003$2,1004$2,1555$2,250
$2,250
RENT COMPS ANALYSIS
  • 2328 Red Maple Road Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.97
    •  
  • 3012 Plum Tree Lane Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1996
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 2133 Mahogany Street Flower Mound, TX 3
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1995
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
  • 2313 Red Maple Road Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1995
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,155
    • $0.99
    •  
  • 2228 Red Maple Road Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1995
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tom Calvaneso
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461706
Last Updated: 11/07/2020
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