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2424 Eagle Mountain Drive Little Elm, TX 75068

3 Beds 2 Baths 1,862 sqft Built 2000

$285,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $153.06
  • 2 Days on Market
  • MLS # : 14532836
  • Updated Date : 03/20/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,862 sqft
  • Baths : 2 full
Listing Agent

Peace Of Mind Realty Llc

Listing Agent's Description

FRISCO ISD! Beautiful house! Like new appliances, new roof May 2017, new AC unit 2019, new paint in living areas, master bedroom and bathroom. New flooring and carpets. Big backyard! Access to community playground and pool. LOCATION! LOCATION! LOCATION! Minutes from 423 with easy access to DNT and 121. Close to shopping, downtown & Airport. Wonderful neighborhood! MUST SEE! Property is tenant occupied till April, 2021. Kindly pardon the mess as tenants are in the process of packing and moving.

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: Marina Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k308k

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

Neighborhood: Marina Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10841912

* 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 Unknown NA
Lone Star High School High Unknown 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:
  • # of teachers:
NA
GreatSchools Rating

Lone Star High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$990
Property Tax -$597
Property Insurance -$135
HOA -$27
Property Management Fees -$99
CASH FLOW
-$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7254$1,7255$1,740
$1,740
RENT COMPS ANALYSIS
  • 2424 Eagle Mountain Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.93
    •  
  • 2436 Tisbury Way Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2000
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 2443 Tisbury Way Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2000
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 2428 Tailburton Court Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2001
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 2304 Breanna Way Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1999
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.98
    •  
PROPERTY LISTING DETAILS
Anand Venkataramani
Peace Of Mind Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532836
Last Updated: 03/20/2021
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