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2389 Elm Valley Drive Little Elm, TX 75068

4 Beds 3 Baths 3,281 sqft Built 2012

$369,900

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $112.74
  • 2 Days on Market
  • MLS # : 14488822
  • Updated Date : 12/19/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,281 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Landon Homes Built home. 4 bedrooms with exercise room, or 5 bedrooms. Gameroom & media room upstairs. Kitchen has breakfast bar, gas cooktop, stainless appliances. Energy efficient home, with Radiant Barrier, Low E windows. Programmable thermostats, tankless water heater, and recirculating hot water heater. Great layout, for entertaining, or for large family. Priced to sell.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Sunset Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Sunset Pointe

NeighborhoodNIR 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
Robertson Elementary School Primary Regular 757 45 9
Trent Middle School Middle Regular NA
Lone Star High School High Regular 1,365 105 NA

Robertson Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
9
GreatSchools Rating

Trent Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lone Star High School

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

$332,910$406,890$369,900

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,365
Property Tax -$775
Property Insurance -$217
HOA -$50
Property Management Fees -$99
CASH FLOW
-$36

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.

$369,900

PROJECTED PRICE

$2,470

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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-$5.0k$0.0$5.0k$10k

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,494

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4453$2,4504$2,4705$2,500
$2,500
RENT COMPS ANALYSIS
  • 2389 Elm Valley Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.75
    •  
  • 2477 Marlin Little Elm, TX 1
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2012
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 2621 Frances Lane Little Elm, TX 2
    • 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2013
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.75
    •  
  • 2405 Playa Del Mar Drive Little Elm, TX 3
    • 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2012
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 2596 Largo Lane Little Elm, TX 5
    • 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
PROPERTY LISTING DETAILS
Stephen Allcorn
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488822
Last Updated: 12/19/2020
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