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2608 Park Ridge Road 
Flower Mound, TX
75022
4 Beds 4 Baths 3,789 sqft
Built 1990
INVESTimate
$719,900
List Price
$196,524
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PROPERTY INFO
FACTS
- Built In 1990
- Price/Sqft : $190.00
- 2 Days on Market
- MLS # : 14414962
- Updated Date : 08/26/2020 at 04:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,789 sqft
- Baths : 3 full , 1 half
Listing Agent
Century 21 Mike Bowman, Inc.
Listing Agent's Description
GREAT HOME ON 1 ACRE IN WICHITA CREEK ESTATES!YOU'LL LOVE THIS TREE COVERED ESTATE THAT INCLUDES A 3-CAR GARAGE,HEATED POOL WITH ATTACHED SPA & WATER FEATURE,CUSTOM PLAY HOUSE WITH HEAT & AC! THE ENTRY HAS A SWEEPING STAIRCASE THAT OPENS TO THE FORMAL LIVING & TOWERING WALL OF WINDOWS*THE STUDY HAS A SECRET PASSAGE TO HALL BATH & HIDDEN CLOSET! THE MASTER & 2ND BEDROOM ARE LOCATED ON 1ST FLOOR*THIS HOME BOASTS DECORATIVE LIGHTING,BEAUTIFUL BUILT-INS,MOLDING, CASING,& COFFERED CEILINGS,2 FIREPLACES*THE CHARMING KITCHEN INCLUDES GRANITE COUNTER TOPS, WALLS OF CABINETS, ISLAND,EXPANSIVE BREAKFAST BAR, & FLOATING DISPLAY CABINETS. PROPERTY IS LOCATED AT THE END OF A CUL-DE-SAC WITH A CIRCLE DRIVE FOR EXTRA PARKING!
SEE MORE
- . 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: Wichita Creek Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wichita Creek Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,820 |
| EXPENSES | Loan Payment | -$2,656 |
| Property Tax | -$1,243 | |
| Property Insurance | -$246 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$424
|
||
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.
$719,900
PROJECTED PRICE
$3,820
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.00% |
| Appreciation Year (1-5) | 5.14% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.37% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,524
LOAN DETAILS
$2,656
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $179,975 |
| Loan Amount | $539,925 |
2
YEARS SAVED
$11,383
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,820
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$3,363
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
2608 Park Ridge Road Flower Mound, TX 5
- 4 beds 4 baths ∙ 3,789 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,789 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $3,820
- $1.01
-
3629 Timothy Drive Flower Mound, TX 1
- 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004
LEASED 04/02/20- Rent
- Rent Per SQFT
- $2,999
- $0.87
-
3408 Courtney Drive Flower Mound, TX 2
- 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2006
LEASED 07/15/19- Rent
- Rent Per SQFT
- $3,000
- $0.85
-
4409 Cassandra Drive Flower Mound, TX 3
- 5 beds 4 baths ∙ 3,688 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,688 Sqft ∙ Built 2002
LEASED 07/20/19- Rent
- Rent Per SQFT
- $3,280
- $0.89
-
4700 Christopher Court Flower Mound, TX 4
- 4 beds 4 baths ∙ 3,512 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,512 Sqft ∙ Built 2006
LEASED 08/28/19- Rent
- Rent Per SQFT
- $3,300
- $0.94
PROPERTY LISTING DETAILS
Century 21 Mike Bowman, Inc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14414962
Last Updated: 08/26/2020
