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2632 S Wavecrest Court Little Elm, TX 75068

3 Beds 2 Baths 1,647 sqft Built 2005

$235,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $142.68
  • 4 Days on Market
  • MLS # : 14460859
  • Updated Date : 11/05/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,647 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Perfect starter home in great neighborhood! This house is located just down the street from Chavez Elementary and from the neighborhood Splash Pool! Perfect location for a family with young kids. Fiber internet available! Seller willing to give concessions for flooring and paint. Special financing options available. Ask listing agent about lease to own and zero down programs.

SEE MORE

MARKET HIGHLIGHTS

  • . 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: Robinson Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k308k

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

Neighborhood: Robinson Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10431912

* 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
Cesar Chavez Elementary School Primary Regular 753 42 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Cesar Chavez Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$867
Property Tax -$493
Property Insurance -$122
HOA -$33
Property Management Fees -$99
CASH FLOW
$46

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$235,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,659

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6004$1,6605$1,675
$1,675
RENT COMPS ANALYSIS
  • 2632 S Wavecrest Court Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.01
    •  
  • 1625 Flagstone Lane Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 1621 Flagstone Lane Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2002
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.96
    •  
  • 2608 Misty Harbor Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 2613 Mi 2613 Misty Harbor Dr. Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2003
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
PROPERTY LISTING DETAILS
Elizabeth Gassos
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460859
Last Updated: 11/05/2020
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