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2688 Hillside Drive Highland Village, TX 75077

4 Beds 3 Baths 2,846 sqft Built 1991

$420,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $147.58
  • 4 Days on Market
  • MLS # : 14528022
  • Updated Date : 03/13/2021 at 14:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,846 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Beautifully updated home in Highland Shores. This 4 bedroom, 2.5 bath home with 3 living areas is move-in ready. The kitchen has been remodeled with pendant Lighting, granite countertops, stainless steel appliances, ceramic tile backsplash & flooring.Downstairs is a large master bedroom with an upgraded shower,separate vanities,jetted tub, & designer closet.Upstairs are 3 bedrooms a full bath and living area.Utility room is separate and in a convenient location.The garage is oversized with storage shelving.The house is landscaped in the front and back. Home requires minimal yard work.The backyard is private and has a hookup for a hot tub.The area is close to community walking trails, shopping, and restaurants.

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: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k439k

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

Neighborhood: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262941

* 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
Mcauliffe Elementary School Primary Regular 520 37 9
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 37
9
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,459
Property Tax -$769
Property Insurance -$192
HOA -$68
Property Management Fees -$99
CASH FLOW
-$16

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.

$420,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,711

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,425
1$2,4252$2,5003$2,5704$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 2688 Hillside Drive Highland Village, TX 3
    • 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.90
    •  
  • 2701 Creekside Way Highland Village, TX 1
    • 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 1990
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.90
    •  
  • 850 Kingwood Court Highland Village, TX 2
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 2992 Marchwood Drive Highland Village, TX 4
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.90
    •  
  • 2707 Hillside Drive Highland Village, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1990
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joyce Robinson
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528022
Last Updated: 03/13/2021
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