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2733 Costa Mesa Drive Little Elm, TX 75068

5 Beds 5 Baths 3,013 sqft Built 2012

$425,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $141.06
  • 4 Days on Market
  • MLS # : 14526228
  • Updated Date : 03/05/2021 at 10:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,013 sqft
  • Baths : 4 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2012, this Little Elm two-story cul-de-sac home offers granite countertops, and a two-car garage. Home utilities may be turned off due to weather conditions. This home has been virtually staged to illustrate its potential.

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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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,476
Property Tax -$891
Property Insurance -$201
HOA -$50
Property Management Fees -$99
CASH FLOW
-$197

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.

$425,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.59%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3004$2,4505$2,520
$2,520
RENT COMPS ANALYSIS
  • 2733 Costa Mesa Drive Little Elm, TX 5
    • 5 beds 5 baths ∙ 3,013 Sqft ∙ Built 2012 5 beds 5 baths ∙ 3,013 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.84
    •  
  • 14901 Riverside Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2010
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 15012 Spruce Street Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 2732 Costa Mesa Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 2405 Playa Del Mar Drive Little Elm, TX 4
    • 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2012
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526228
Last Updated: 03/05/2021
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