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2832 Mona Vale Road Trophy Club, TX 76262

4 Beds 5 Baths 3,908 sqft Built 2014

$620,000

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $158.65
  • 1 Days on Market
  • MLS # : 14466689
  • Updated Date : 11/07/2020 at 22:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,908 sqft
  • Baths : 3 full , 2 half
Listing Agent

Texas Real Estate Professionals

Listing Agent's Description

Gorgeous home in the highly sought after Highland Edition of Trophy Club. This gem is situated on a beautiful corner lot; well over a quarter of an acre. Upon entry, you will see a beautiful staircase with hand scraped wood floors. Just inside, you will find a formal sitting room or study with built-in shelving. The open floorplan showcases a large living area with easy access to the kitchen; perfect for entertaining at holidays. 4 nice sized bedrooms feature walk-in closets & private bathrooms. Do not miss the huge media room to complete your seamless entertaining! The expansive backyard is all watered by a Rachio Smart Sprinkler System, with tons of potential if you'd like to put in a pool or gardening area.

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: The Highlands at Trophy Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k578k

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

Neighborhood: The Highlands at Trophy Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263785

* 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 571 35 7
Medlin Middle School Middle Regular 1,078 65 8

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 35
7
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$558,000$682,000$620,000

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$2,288
Property Tax -$1,152
Property Insurance -$253
HOA -$25
Property Management Fees -$99
CASH FLOW
$54

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.

$620,000

PROJECTED PRICE

$3,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.2%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$40,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,870

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $4,221

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,850
1$3,8502$3,8703$4,3004$4,500
$4,500
RENT COMPS ANALYSIS
  • 2832 Mona Vale Road Trophy Club, TX 2
    • 4 beds 5 baths ∙ 3,908 Sqft ∙ Built 2014 4 beds 5 baths ∙ 3,908 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $0.99
    •  
  • 2715 Morgan Lane Trophy Club, TX 1
    • 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2012
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.08
    •  
  • 2846 Macquarie Street Trophy Club, TX 3
    • 4 beds 4 baths ∙ 4,131 Sqft ∙ Built 2015 4 beds 4 baths ∙ 4,131 Sqft ∙ Built 2015
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.04
    •  
  • 2450 Lilyfield Drive Trophy Club, TX 4
    • 5 beds 4 baths ∙ 4,014 Sqft ∙ Built 2009 5 beds 4 baths ∙ 4,014 Sqft ∙ Built 2009
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.12
    •  
PROPERTY LISTING DETAILS
Rylee Friesen
Texas Real Estate Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466689
Last Updated: 11/07/2020
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