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261 Harbor Hills Drive Flower Mound, TX 75028

3 Beds 3 Baths 2,324 sqft Built 2019

$509,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $219.41
  • 5 Days on Market
  • MLS # : 14477299
  • Updated Date : 12/02/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Upgrades galore in this beautiful custom Normandy Home! From the French style elevation to the oversized island this house boasts upgrades throughout. The wood look tile flows throughout and opens to the gourmet kitchen with a farm style sink, 5 burner gas stove, and ceiling height cabinets. Enjoy the grand wall in the spacious living room that opens up to the upstairs living space. The wrought iron banister and wood stairs are a stunning feature you won't find in most homes. Working from home? We've got you covered with a light and bright home office. More upgrades include lighting, backsplash, appliances, countertops, and more! Community pool, park, and playground. Minutes from DFW airport, 121, 114, and 635.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$458,910$560,890$509,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,881
Property Tax -$1,033
Property Insurance -$162
HOA -$54
Property Management Fees -$99
CASH FLOW
-$1,039

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.

$509,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.43%

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) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,124

INVESTMENT

$137,124

Down Payment
$127,475
Rehab Estimate
$2,000
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$39

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,510

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2953$2,3754$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 261 Harbor Hills Drive Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.94
    •  
  • 2700 Stanford Drive Flower Mound, TX 2
    • 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 1999
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.12
    •  
  • 1905 Trevor Court Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2001
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.05
    •  
  • 3613 Mayhaw Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 1999
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
  • 236 Glenview Avenue Flower Mound, TX 5
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2020
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jennifer Fowler
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477299
Last Updated: 12/02/2020
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