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2692 Waterdance Drive Little Elm, TX 75068

3 Beds 2 Baths 1,673 sqft Built 2006

INVESTimate

$285,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$306,062  ( +7.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $170.35
  • 8 Days on Market
  • MLS # : 14416436
  • Updated Date : 08/21/2020 at 09:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Avignon Realty

Listing Agent's Description

Nicely updated house in a prime location of Little Elm close to Dallas North Tollway and 380. The property is located in a quiet neighborhood close proximity to restaurants and shops. The updated features include laminate wood floor, granite kitchen counter top, the two bathrooms are completely remodeled. This is a must see!!

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
Robertson Elementary School Primary Regular 757 45 9
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Robertson Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
9
GreatSchools Rating

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,052
Property Tax -$607
Property Insurance -$124
HOA -$50
Property Management Fees -$99
CASH FLOW
-$211

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.

$285,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,8004$1,8005$1,845
$1,845
RENT COMPS ANALYSIS
  • 2692 Waterdance Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.03
    •  
  • 2694 Lake Ridge Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2006
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 2618 Calmwater Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 2729 Lake Ridge Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2006
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 2609 Lake Ridge Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2008
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.03
    •  
PROPERTY LISTING DETAILS
Logan Hai Chau
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416436
Last Updated: 08/21/2020
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