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2337 Basswood Drive Little Elm, TX 75068

4 Beds 2 Baths 2,298 sqft Built 2001

$325,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $141.43
  • 7 Days on Market
  • MLS # : 14501699
  • Updated Date : 01/20/2021 at 21:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,298 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Agency

Listing Agent's Description

Beautiful, spacious 4 bedroom 2 bath. Single Story, no stairs for mom or dad. Updated & MOVE IN READY!. Stunning fireplace gas logs or wood, New microwave, new paint throughout, quartz counters. hardwoods, living room, family room, dining room. Halls. kitchen & baths are tile. Backyard is big enough for a pool. upgraded fence, Land scaping, trees, flowers, covered front porch Items do not convey: Refrigerator, Freezer, gas grill, washer dryer, all TV's & wall equipment

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

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,129
Property Tax -$681
Property Insurance -$160
HOA -$32
Property Management Fees -$99
CASH FLOW
-$251

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.

$325,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.57%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8003$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2337 Basswood Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 2312 Hickory Court Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2001
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.75
    •  
  • 1924 Silver Leaf Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2002
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 2308 Sumac Court Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2001
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 2041 Apple Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 1999
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Betty Wimpy
Signature Real Estate Agency
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501699
Last Updated: 01/20/2021
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