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2468 Hammock Lake Drive Little Elm, TX 75068

4 Beds 2 Baths 2,782 sqft Built 2010

$369,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $132.96
  • 3 Days on Market
  • MLS # : 14459914
  • Updated Date : 11/07/2020 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,782 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Search OtpSN1C6Osw on YouTube for video of the home. North facing sports city home is immaculately maintained, single owner custom built Landon Home has everything. Located in the highly sought after Frisco ISD and feeding into Lone Star high school, the home features numerous upgrades and community amenities. Large fenced backyard, tankless water heaters, porcelain tile flooring, new carpet, stainless appliances, gas stove, bronze rubbed fixtures, and more. Sunset Pointe community amenities include multiple playgrounds, pools, pavilions and nearby hiking and bike trails. Just minutes away from Lake Lewisville to the West and everything Frisco offers, including FC Dallas and the new PGA HQ and golf course.

SEE MORE

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: 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
Trent Middle School Middle Regular NA
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

Trent Middle School

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

Lone Star High School

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

$332,910$406,890$369,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,365
Property Tax -$775
Property Insurance -$188
HOA -$50
Property Management Fees -$99
CASH FLOW
-$267

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.

$369,900

PROJECTED PRICE

$2,210

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,330

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,2104$2,2955$2,390
$2,390
RENT COMPS ANALYSIS
  • 2468 Hammock Lake Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,782 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,782 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.79
    •  
  • 2663 Lake Ridge Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2006
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 3428 Palm Lake Drive Little Elm, TX 2
    • 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2015
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.83
    •  
  • 2424 Elm Valley Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2012
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 2417 Kingsgate Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2015
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.86
    •  
PROPERTY LISTING DETAILS
Shawn Wacasey
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459914
Last Updated: 11/07/2020
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