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

2612 Cascade Cove Drive Little Elm, TX 75068

3 Beds 2 Baths 1,939 sqft Built 2004

$280,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $144.40
  • 6 Days on Market
  • MLS # : 14476691
  • Updated Date : 11/24/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,939 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Light and bright 3 bed, 2 bath home in Sunset Pointe, with Frisco schools! Freshly painted interior and new carpet. Spacious living area, with fireplace and access to back patio. Great open kitchen with electric range, breakfast bar and walk in pantry. Large owner suite with vaulted ceiling and walk in closet, ensuite featuring dual sinks, garden tub and walk in shower. Darling open play room with built in bench with cabinets. Large backyard with extended stone patio is perfect for sitting and watching the kids or pets play! This home is in a prime location just off of Eldorado Pkwy which offers great options for dining and shopping! Fantastic neighborhood amenities, and minutes from Lake Lewisville!

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

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
Mary M. Boals Elementary School Primary Regular 704 42 8
Trent Middle School Middle Regular NA
Lone Star High School High Regular 1,365 105 NA

Mary M. Boals Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 42
8
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,033
Property Tax -$587
Property Insurance -$139
HOA -$50
Property Management Fees -$99
CASH FLOW
-$228

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.

$280,000

PROJECTED PRICE

$1,680

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7503$1,8504$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2612 Cascade Cove Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.87
    •  
  • 2365 White Pine Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2812 Cascade Cove Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2005
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 2829 Evening Mist Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2004
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 2733 Evening Mist Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2006
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
PROPERTY LISTING DETAILS
Christie Cannon
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476691
Last Updated: 11/24/2020
BESbswy