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2333 Pheasant Drive Little Elm, TX 75068

3 Beds 2 Baths 1,764 sqft Built 2005

$339,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $192.69
  • 3 Days on Market
  • MLS # : 14504598
  • Updated Date : 01/22/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Opportunity! Wow factor with extensive designer updates, pool and covered patio in Frisco ISD. Wood-look porcelain tile throughout, refinished cabinets and vanities, level 3 granite in kitchen and bathrooms, and more all completed in 2019. Upgraded LED dimmer-controlled lighting in multiple locations throughout the home. Open floorplan with high ceilings allows great flow of light and energy from kitchen to living to the outdoor living area. Tons of closet space and generous bedroom sizes offer efficiency in the design. Outside find a large covered patio with ceiling fans complimenting the contemporary pool. Great access to the Dallas North Tollway, shopping, dining and Frisco schools!

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: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Weldon F. Corbell Elementary School Primary Regular 714 44 8
Bennett And Alma Griffin Middle School Middle Regular 815 56 10
Lone Star High School High Regular 1,365 105 NA

Weldon F. Corbell Elementary School

  • Education Level: Primary
  • # of students: 714
  • # of teachers: 44
8
GreatSchools Rating

Bennett And Alma Griffin Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 56
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,181
Property Tax -$713
Property Insurance -$129
HOA -$19
Property Management Fees -$99
CASH FLOW
-$350

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.

$339,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,7953$1,8254$1,8455$1,850
$1,850
RENT COMPS ANALYSIS
  • 2333 Pheasant Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.01
    •  
  • 3116 Deer Run Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2002
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 2340 Crestridge Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2003
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.06
    •  
  • 2408 Quail Creek Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2004
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.98
    •  
  • 2428 Foxwood Lane Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Marvin Jolly
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504598
Last Updated: 01/22/2021
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