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2748 Stallion Drive Little Elm, TX 75068

4 Beds 2 Baths 2,112 sqft Built 2005

$284,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $134.47
  • 5 Days on Market
  • MLS # : 14461080
  • Updated Date : 10/31/2020 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,112 sqft
  • Baths : 2 full
Listing Agent

Krystal Womble Elite Realtors

Listing Agent's Description

Hurry and bring your buyers to view this beautiful home that's 3 miles from the beach in Little Elm! This will sell fast! Move in ready, right across from the community pool and playground. Amazing open floor plan with nice engineered hardwood floors, granite counter tops, backsplash, quartz counter tops in the bathrooms with a huge backyard to sit and watch the beautiful sunsets and see a glimpse of Lake Lewisville from the back porch. Come out and take a look at this wonderful 4 bedroom home! IT WONT LAST LONG! OPEN HOUSE SATURDAY, NOVEMBER 7th from 2 to 5PM!

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

Neighborhood: Stardust Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k313k

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

Neighborhood: Stardust Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261912

* 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
Cesar Chavez Elementary School Primary Regular 753 42 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Cesar Chavez Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$255,600$312,400$284,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,048
Property Tax -$595
Property Insurance -$149
HOA -$35
Property Management Fees -$99
CASH FLOW
-$86

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.

$284,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,010

INVESTMENT

$81,010

Down Payment
$71,000
Rehab Estimate
$5,750
Closing Costs
$4,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,048

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,000
Loan Amount $213,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8404$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 2748 Stallion Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 1125 Lasso Court Little Elm, TX 1
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2012
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 1269 Water Lily Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2013
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1040 Broken Spoke Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 1262 Lasso Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2014
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Towanda Hammonds
Krystal Womble Elite Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461080
Last Updated: 10/31/2020
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