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2861 Bluffview Drive Lewisville, TX 75067

4 Beds 2 Baths 2,134 sqft Built 1998

$366,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $171.93
  • 3 Days on Market
  • MLS # : 14523180
  • Updated Date : 02/26/2021 at 17:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,134 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

You'll love this updated 4 bedroom, 2 full bathroom home in Vista Ridge Estates! Beautiful updates include whole-house interior paint and new carpet! Great open and transitional floorplan where 4th bedroom can make for an excellent office. Entertainer's kitchen features ample cabinetry, a gas cooktop, and extra lighting from the thoughtfully placed skylight. Primary bedroom is clean and fresh offers high ceilings and an en-suite bathroom with double sinks, a relaxing soaking tub, and a large walk-in closet. Find peace and relaxation in the tranquil backyard with towering trees and no homes behind you. Perfectly located off of Hwy 121 and Denton Tap. Close to grocery stores, shopping, dining, parks, and trails.

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: Vista Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k343k

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

Neighborhood: Vista Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262174

* 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
Rockbrook Elementary School Primary Regular 780 51 3
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Unknown NA

Rockbrook Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 51
3
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$330,210$403,590$366,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,274
Property Tax -$633
Property Insurance -$151
HOA -$51
Property Management Fees -$99
CASH FLOW
-$57

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.

$366,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$102,979

INVESTMENT

$102,979

Down Payment
$91,725
Rehab Estimate
$5,750
Closing Costs
$5,504

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,274

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,725
Loan Amount $275,175
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,241

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1954$2,2255$2,300
$2,300
RENT COMPS ANALYSIS
  • 2861 Bluffview Drive Lewisville, TX 2
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 449 Vista Trail Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1997
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 2988 Sicily Way Lewisville, TX 3
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 215 Roma Drive Lewisville, TX 4
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.10
    •  
  • 538 Waterview Drive Coppell, TX 5
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1997
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.09
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523180
Last Updated: 02/26/2021
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