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2519 Little Wonder Lane Northlake, TX 76247

3 Beds 2 Baths 1,991 sqft Built 2020

INVESTimate

$331,080

List Price

$2,220

$1,998 - $2,442

Rent Est.

$359,950  ( +8.72%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $166.29
  • 9 Days on Market
  • MLS # : 14415885
  • Updated Date : 08/24/2020 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,991 sqft
  • Baths : 2 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Pecan Square in Northlake. Beautiful one-story Orchard plan. Available for FALL 2020 move-in. 3BR, 2BA + Quartz counters + Recessed Lighting + Fireplace in Gathering + Stainless Whirlpool Appliances - 1991 sq.ft. Open concept layout with granite, 42 inch upper cabinets - painted white, pendant lighting & beautiful wall tile in Kitchen. Upgraded floors and carpet throughout main living areas and covered back patio.

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10532370

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$297,972$364,188$331,080

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,222
Property Tax -$684
Property Insurance -$142
HOA -$177
Property Management Fees -$99
CASH FLOW
-$103

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.

$331,080

PROJECTED PRICE

$2,220

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.72%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,736

INVESTMENT

$89,736

Down Payment
$82,770
Rehab Estimate
$2,000
Closing Costs
$4,966

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,222

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,770
Loan Amount $248,310
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,235

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,2953$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2519 Little Wonder Lane Northlake, TX 1
    • 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.12
    •  
  • 109 Cole Court Northlake, TX 2
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 1716 Sparrow Street Northlake, TX 3
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 117 Cole Court Argyle, TX 4
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 1820 Lark Lane Argyle, TX 5
    • 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415885
Last Updated: 08/24/2020
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