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2417 Lakebend Drive Little Elm, TX 75068

4 Beds 2 Baths 2,331 sqft Built 2009

$350,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $150.15
  • 3 Days on Market
  • MLS # : 14474410
  • Updated Date : 11/27/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,331 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

An AMAZING Property within the renowed FRISCO ISD! With 2331 feet of living space including 4bdrms, 2bths, dining room, & a kitchen to rival any other one for the culinary expert. The kitchen features sleek black GE appliances, a granite island bar that overlooks the large family room. Pantries, built-ins, walk-in closets throughout gives one endless storage. Be refreshed in the expansive master bedroom suite that's detailed with crown molding and plantation shutters for privacy. Plantation Shutters throughout entire home!! NEW ROOF installed in 2017! NEW HVAC installed in August 2020. HUGE interior lot, large enough for a pool!

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: 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
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
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

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,291
Property Tax -$734
Property Insurance -$162
HOA -$50
Property Management Fees -$99
CASH FLOW
-$246

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.

$350,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,197

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0504$2,0905$2,325
$2,325
RENT COMPS ANALYSIS
  • 2417 Lakebend Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.90
    •  
  • 2652 Lake Ridge Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2006
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 2429 Morning Dew Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 2005
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 2645 Calmwater Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 2006
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
  • 2604 Waterdance Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2010
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.01
    •  
PROPERTY LISTING DETAILS
Guillermo Trevino
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474410
Last Updated: 11/27/2020
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