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2703 Point Vista Drive Lewisville, TX 75067

5 Beds 5 Baths 3,776 sqft Built 2015

INVESTimate

$524,900

List Price

$3,050

$2,800 - $3,300

Rent Est.

$576,130  ( +9.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $139.01
  • 3 Days on Market
  • MLS # : 14419780
  • Updated Date : 08/24/2020 at 21:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,776 sqft
  • Baths : 4 full , 1 half
Listing Agent

Re/max Pinnacle Group Realtors

Listing Agent's Description

Stunning 5 bedroom, 4.1 bath family home conveniently located near Highway 121 & I35. Master suite is a dream come true with a large bathrooms which features a jetted tub, separate shower, separate vanities, and a walk in closet. The main floor has a guest bedroom, a large living room with a gas fireplace, a dining room and a media room with French doors, which could be used as a study or game room. The second floor has three bedrooms, two of which share a bathroom with separate sinks for each room, and a large living area with a small nook which can be used as an area for at home learning. The backyard has a covered patio, perfect for entertaining. Enjoy the versatility of this home to welcome its new owner

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

Zip Code: 75067

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k290k

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

Zip Code: 75067

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10501939

* 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
Rockbrook Elementary School Primary Regular 780 51 3
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Rockbrook Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 51
3
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$1,937
Property Tax -$905
Property Insurance -$245
HOA -$57
Property Management Fees -$99
CASH FLOW
-$193

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.

$524,900

PROJECTED PRICE

$3,050

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$15,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,682

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,3003$3,4004$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 2703 Point Vista Drive Lewisville, TX 1
    • 5 beds 5 baths ∙ 3,776 Sqft ∙ Built 2015 5 beds 5 baths ∙ 3,776 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.81
    •  
  • 640 Springlake Way Coppell, TX 2
    • 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2017
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.95
    •  
  • 637 Springlake Way Coppell, TX 3
    • 4 beds 4 baths ∙ 3,495 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,495 Sqft ∙ Built 2017
    property image
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.97
    •  
  • 775 Windsor Road Coppell, TX 4
    • 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 2019
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.00
    •  
  • 641 Rock Springs Road Coppell, TX 5
    • 5 beds 5 baths ∙ 3,757 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,757 Sqft ∙ Built 2016
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
David Devries
Re/max Pinnacle Group Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419780
Last Updated: 08/24/2020
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