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2704 Leisure Lane Little Elm, TX 75068

4 Beds 3 Baths 2,448 sqft Built 2006

$359,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $146.65
  • 2 Days on Market
  • MLS # : 14531649
  • Updated Date : 03/20/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,448 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Walk into this beautiful home with gleaming wood floors and an open floorplan with lots of natural light. Dining room is ideal for entertaining, family room with gas fireplace and open to the cook's kitchen with stainless steel appliances, including a nearly new refrigerator. Breakfast area off kitchen can accommodate a large dining set. Guest bedroom downstairs with full bath. Mudroom area off utility room. Grand master suite with spa bath including garden tub and shower. Gameroom upstairs is great for moving entertaining upstairs. Two other secondary bedrooms also upstairs with a full bath. A pool sized plus grassy backyard is amazing and a rare find. Zoned for Frisco schools! Great community amenities!

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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,247
Property Tax -$753
Property Insurance -$169
HOA -$50
Property Management Fees -$99
CASH FLOW
-$287

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.

$359,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.57%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0303$2,0504$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 2704 Leisure Lane Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 2681 Calmwater Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 14709 Southview Trail Little Elm, TX 3
    • 5 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
  • 2709 Waterdance Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2006
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 14800 Southview Trail Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
PROPERTY LISTING DETAILS
Melissa Manemann
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531649
Last Updated: 03/20/2021
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