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2812 Tophill Lane Flower Mound, TX 75022

4 Beds 3 Baths 2,646 sqft Built 1997

$419,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $158.35
  • 7 Days on Market
  • MLS # : 14475546
  • Updated Date : 11/23/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,646 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

WELCOME HOME! Fully updated 4-2.5-2 home in highly sought-after Northshore neighborhood. Fresh designer paints inside and out. Spacious floor plan with high ceiling, and open concept which is perfect for entertaining. Updated kitchen with new SS appliances, granite countertops & center island. Cozy family, living & dining room w hardwood floor & stone-tiled fireplace. Master suite is on 1st floor. Updated master bath w frameless walk in shower, His & Her vanities & a large closet. Upstairs features a game room, 3 generously sized bedrooms, & new laminate flooring. HUGE backyard w- covered patio, play set, storage building. Boat-RV parking on the long driveway. New roof Nov 2019.

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: Villages of Northshore

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Villages of Northshore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Old Settlers Elementary School Primary Regular 636 43 10
Shadow Ridge Middle School Middle Regular 721 52 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 43
10
GreatSchools Rating

Shadow Ridge Middle School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 52
10
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,546
Property Tax -$723
Property Insurance -$180
HOA -$45
Property Management Fees -$99
CASH FLOW
-$113

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.

$419,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,507

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,5003$2,5954$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 2812 Tophill Lane Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.94
    •  
  • 2820 Stanford Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 2900 Meadow Green Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 2501 Stanford Drive Flower Mound, TX 4
    • 3 beds 2 baths ∙ 2,693 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,693 Sqft ∙ Built 1988
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 2521 Sycamore Leaf Lane Flower Mound, TX 5
    • 5 beds 3 baths ∙ 2,779 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,779 Sqft ∙ Built 1998
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.97
    •  
PROPERTY LISTING DETAILS
Chai Jongs
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475546
Last Updated: 11/23/2020
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