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2801 Cresent Lake Drive Little Elm, TX 75068

3 Beds 2 Baths 1,903 sqft Built 2008

$300,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $157.65
  • 2 Days on Market
  • MLS # : 14481110
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

Cute well maintained David Weekley built home! Hardwood flooring & crown molding added to dining room and family room! Kitchen boasts island, granite counters, stainless appliances, crown molding also in breakfast area which is open to dining room.Large family room is prewired for speakers and views sizable back yd with covered patio for shaded seating and grilling!Master BR split for privacy has lrg walkin closet sep tub & rebuilt shower. Floorplan offers 2nd living area in between secondary bedrooms great for playroom or workout room! Drive up appeal is nice on this home which a rich colored brick and covered front porch. Hose is 1 block from Lake Lewisville and is located in Master Planned Sunset Pointe!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Lakeview Elementary School Primary Regular 581 38 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
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
 

$270,000$330,000$300,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,107
Property Tax -$629
Property Insurance -$137
HOA -$50
Property Management Fees -$99
CASH FLOW
-$302

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.

$300,000

PROJECTED PRICE

$1,720

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$766

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
  • $0.9

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,7254$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2801 Cresent Lake Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.90
    •  
  • 2793 Cresent Lake Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2012
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 1282 Waterford Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2012
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.92
    •  
  • 1269 Water Lily Drive Little Elm, TX 4
    • 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
    •  
  • 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
Karen Mackanos Long
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481110
Last Updated: 12/05/2020
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