Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2537 Windchase Drive Flower Mound, TX 75028

3 Beds 3 Baths 1,692 sqft Built 1990

$248,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $146.57
  • 3 Days on Market
  • MLS # : 14494714
  • Updated Date : 01/09/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

MULTIPLE OFFERS! Offer deadline Sun. Jan. 10th at 12PM. GREAT OPPORTUNITY for investors! Two-story home on corner lot features 3 bedrooms, 2.5 baths, 2 dining areas & living room with brick fireplace. All bdrms up. Master suite with garden tub, separate shower, & WIC. Spacious back yard with open patio & new wood fence. Excellent location close to schools, parks, shopping, dining, roadways, & all the conveniences. Priced to sell and being sold AS-IS.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Thorn Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Thorn Hill

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
Forest Vista Elementary School Primary Regular 546 37 9
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Forest Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 37
9
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
 

$223,200$272,800$248,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$861
Property Tax -$428
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$356

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.

$248,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.75%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,470

INVESTMENT

$71,470

Down Payment
$62,000
Rehab Estimate
$5,750
Closing Costs
$3,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$861

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,000
Loan Amount $186,000
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$44,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8703$1,9254$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2537 Windchase Drive Flower Mound, TX 2
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.11
    •  
  • 2803 Dickens Lane Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 3743 Twin Oaks Court Flower Mound, TX 3
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1979
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.12
    •  
  • 3313 Windchase Drive Flower Mound, TX 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1992
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
  • 2828 Hamlett Lane Flower Mound, TX 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1983
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Elizabeth Snowden
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494714
Last Updated: 01/09/2021
BESbswy