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2413 Travis Court Flower Mound, TX 75028

4 Beds 4 Baths 4,311 sqft Built 2003

INVESTimate

$589,900

List Price

$3,410

$3,160 - $3,660

Rent Est.

$630,190  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $136.84
  • 6 Days on Market
  • MLS # : 14417426
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,311 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors/fm

Listing Agent's Description

THIS 4-4-3 STAND OUT PROPERTY OFFERS A DUAL MASTER! FM beauty offers wood flrs, shutters, tankless H20, radiant barrier, comm grade appl & climate controlled 3 car. Enter to frml liv, spacious stdy w-cust blt-ins, & frml din. Kit has ovrszd isl, white custom cabs, granite, pretty tile backsplash & floors, bbar, upgrade 6 burner stove with griddle, 2 ovens, outstanding vent system & opens to nk & lge famrm w- high ceilings & views of back. Mstr ste features sitting & shower is ovrsizd. Split bed plan & 2nd Mstr has its own bath. 2 more bed & baths. Lush media offers great movie time. Lge cust covpatio features outdoor cooking & 2 seating areas. SITS ON OVER A THIRD ACRE & STANDS OUT ABOVE THE REST!

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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: Lakemont

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k512k

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

Neighborhood: Lakemont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263152

* 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
Prairie Trail Elementary School Primary Regular 609 41 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Prairie Trail Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$530,910$648,890$589,900

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$2,176
Property Tax -$1,019
Property Insurance -$276
HOA -$53
Property Management Fees -$99
CASH FLOW
-$214

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.

$589,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,074

INVESTMENT

$162,074

Down Payment
$147,475
Rehab Estimate
$5,750
Closing Costs
$8,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,176

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,475
Loan Amount $442,425
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$17,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $3,406

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,3003$3,4104$3,800
$3,800
RENT COMPS ANALYSIS
  • 2413 Travis Court Flower Mound, TX 3
    • 4 beds 4 baths ∙ 4,311 Sqft ∙ Built 2003 4 beds 4 baths ∙ 4,311 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $0.79
    •  
  • 2001 Dillon Court Flower Mound, TX 1
    • 4 beds 4 baths ∙ 4,011 Sqft ∙ Built 2007 4 beds 4 baths ∙ 4,011 Sqft ∙ Built 2007
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.74
    •  
  • 100 Thistle Court Highland Village, TX 2
    • 4 beds 4 baths ∙ 4,436 Sqft ∙ Built 1992 4 beds 4 baths ∙ 4,436 Sqft ∙ Built 1992
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.74
    •  
  • 2008 Cartwright Court Flower Mound, TX 4
    • 4 beds 4 baths ∙ 4,280 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,280 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.89
    •  
PROPERTY LISTING DETAILS
Donna M Robichaux
Ebby Halliday, Realtors/fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417426
Last Updated: 08/21/2020
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