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2417 Mallard Drive Little Elm, TX 75068

3 Beds 2 Baths 2,127 sqft Built 2002

$299,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $140.57
  • 5 Days on Market
  • MLS # : 14494414
  • Updated Date : 01/07/2021 at 10:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,127 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Beautifully maintained 1 owner, single story Highland home in Frisco ISD. This 3 bed 2 bath split plan home has wonderful use of space. The study with French doors is on the front of the home for additional peace and quiet, Formal dining open to the hall both w laminate allows for variety of table sizes. Spacious eat in kitchen w window seat, island, breakfast bar, pantry, recently updated sink, SS appliances including gas range is open to the living room w laminate floors, WB fireplace conveniently outfitted w gas logs. Peaceful master suite with huge closet has wall of windows, bath w dual vanities, garden tub, sep shower, recent updates include white painted cabinets, granite counters. Roof replaced in 2014

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Weldon F. Corbell Elementary School Primary Regular 714 44 8
Bennett And Alma Griffin Middle School Middle Regular 815 56 10
Lone Star High School High Regular 1,365 105 NA

Weldon F. Corbell Elementary School

  • Education Level: Primary
  • # of students: 714
  • # of teachers: 44
8
GreatSchools Rating

Bennett And Alma Griffin Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 56
10
GreatSchools Rating

Lone Star High School

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

$269,100$328,900$299,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,039
Property Tax -$627
Property Insurance -$150
HOA -$21
Property Management Fees -$99
CASH FLOW
-$45

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.

$299,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,8954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 2417 Mallard Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.89
    •  
  • 2557 Persimmon Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2001
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 2337 Pheasant Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2005
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 3132 Fox Hollow Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 3129 Nighthawk Lane Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sandra Burrus
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494414
Last Updated: 01/07/2021
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