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2437 Creekhaven Drive Flower Mound, TX 75028

4 Beds 3 Baths 2,152 sqft Built 1993

$361,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $167.75
  • 2 Days on Market
  • MLS # : 14501259
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,152 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Flower Mound two-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Donald Elementary School Primary Regular 497 36 7
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Donald Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 36
7
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$324,900$397,100$361,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,254
Property Tax -$623
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
$52

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.

$361,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,415

INVESTMENT

$101,415

Down Payment
$90,250
Rehab Estimate
$5,750
Closing Costs
$5,415

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,250
Loan Amount $270,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,356

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,180
1$2,1802$2,2753$2,2954$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 2437 Creekhaven Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,152 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,152 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.01
    •  
  • 2501 Springwater Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1992
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.11
    •  
  • 2513 Springwater Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.12
    •  
  • 2709 Graystone Drive Flower Mound, TX 4
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1993
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
  • 2204 Cypress Court Flower Mound, TX 5
    • 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1990
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.07
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501259
Last Updated: 01/16/2021
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