Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2340 White Oak Drive Little Elm, TX 75068

5 Beds 3 Baths 3,448 sqft Built 2002

$325,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $94.26
  • 2 Days on Market
  • MLS # : 14504432
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,448 sqft
  • Baths : 3 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Gorgeous two-story home on a spacious interior lot with mature landscaping, a two-car garage, and a covered porch. Open concept with three living rooms including a formal living & dining combo and a massive game room upstairs. A family room with a fireplace is adjacent to the kitchen. Easy maintenance tile in the foyer and kitchen, laminate in common areas. One guest bedroom and bath on the main level. The master suite has a luxurious 5-piece bathroom and a walk-in closet. Guest bedrooms are a generous size with carpet. The private yard offers a covered patio and a fenced pool. A great place to relax and entertain guests. Clean and move-in ready

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

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,129
Property Tax -$681
Property Insurance -$226
HOA -$32
Property Management Fees -$99
CASH FLOW
$202

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

$2,370

PROJECTED RENT

0.73%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 50% 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

7.42

YEARS SAVED

$30,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,396

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,245
1$2,2452$2,3003$2,3704$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2340 White Oak Drive Little Elm, TX 3
    • 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.69
    •  
  • 2729 Peach Drive Little Elm, TX 1
    • 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2001
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.65
    •  
  • 2348 White Oak Drive Little Elm, TX 2
    • 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 2748 Sunbeam Drive Little Elm, TX 4
    • 5 beds 4 baths ∙ 3,311 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,311 Sqft ∙ Built 2005
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.72
    •  
  • 2672 Pine Trail Drive Little Elm, TX 5
    • 5 beds 3 baths ∙ 3,377 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,377 Sqft ∙ Built 2008
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
PROPERTY LISTING DETAILS
Quen Williams
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504432
Last Updated: 01/23/2021
BESbswy