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2837 Earl Drive Trophy Club, TX 76262

4 Beds 4 Baths 2,765 sqft Built 2013

INVESTimate

$465,000

List Price

$2,920

$2,670 - $3,170

Rent Est.

$484,298  ( +4.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $168.17
  • 6 Days on Market
  • MLS # : 14417876
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,765 sqft
  • Baths : 3 full , 1 half
Listing Agent

Listing Results, Llc

Listing Agent's Description

This gorgeous 4 bed, 3.5 bath home is move in ready! Great floorplan with master and 2nd bedroom on the main level and an open kitchen-living area that's perfect for entertaining. Lots of windows and natural light. The second floor has two bedrooms, 1.5 baths and a flex room that can be used as a game room or nonconforming 5th bedroom. This home has many upgrades to include frameless showers, new paint (2019) throughout and safe room added under the stairs. Sought after Highlands of Trophy Club location less than 2 miles from Beck Elementary, Medlin Middle and Byron Nelson High School. This home has been well cared for and meticulously maintained. It's a must see! Furnishings negotiable.

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
Samuel Beck Elementary School Primary Regular 731 47 10
Medlin Middle School Middle Regular 1,078 65 8

Samuel Beck Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
10
GreatSchools Rating

Medlin Middle School

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

$418,500$511,500$465,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,716
Property Tax -$864
Property Insurance -$188
HOA -$20
Property Management Fees -$99
CASH FLOW
$34

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.

$465,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.15%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$29,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,920

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,9203$3,1004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 2837 Earl Drive Trophy Club, TX 2
    • 4 beds 4 baths ∙ 2,774 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,774 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.05
    •  
  • 2848 Exeter Drive Trophy Club, TX 1
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2014
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
  • 2814 Sherwood Drive Trophy Club, TX 3
    • 4 beds 4 baths ∙ 2,876 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,876 Sqft ∙ Built 2011
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.08
    •  
  • 2837 Sherwood Drive Trophy Club, TX 4
    • 4 beds 4 baths ∙ 2,946 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,946 Sqft ∙ Built 2012
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.09
    •  
  • 2824 Earl Drive Trophy Club, TX 5
    • 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2012
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417876
Last Updated: 08/21/2020
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