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2421 Muirfield Drive Little Elm, TX 75068

4 Beds 3 Baths 2,882 sqft Built 2020

$479,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $166.52
  • 6 Days on Market
  • MLS # : 14479317
  • Updated Date : 12/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,882 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Calloway Trails in Little Elm is a master-planned community. With amazing activities and prestigious schools in the Frisco ISD, this vibrant community near a large park has plenty to offer! Welcoming front porch! Gorgeous home offers a beautiful 8' mahogany entry door with hardwood flooring in foyer, great room, kitchen, & dining area. Impressive gourmet kitchen showcases quartz counters and built-in stainless-steel appliances - perfect for fine dining! Expansive great room with corner fireplace with maple mantel Owner's suite luxury bath features a relaxing separate tub and shower. Versatile open gameroom is perfect for family game nights. Smart home! Wonderful oversized laundry. $47,800 in upgrades included.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Robert Cobb Middle School Middle Regular 909 63 NA
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

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Lone Star High School

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

$431,910$527,890$479,900

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 -$1,771
Property Tax -$1,006
Property Insurance -$194
HOA -$58
Property Management Fees -$99
CASH FLOW
-$758

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$479,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.49%

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) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,174

INVESTMENT

$129,174

Down Payment
$119,975
Rehab Estimate
$2,000
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$14

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
  • $0.82

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3004$2,3505$2,370
$2,370
RENT COMPS ANALYSIS
  • 2421 Muirfield Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,882 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,882 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.82
    •  
  • 2320 Leeward Place Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2015
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 1022 Talley Lane Frisco, TX 2
    • 4 beds 3 baths ∙ 2,946 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,946 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.76
    •  
  • 745 Shiprock Frisco, TX 3
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2006
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 517 Windward Drive Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,752 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,752 Sqft ∙ Built 2016
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479317
Last Updated: 12/01/2020
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