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2904 Butterfield Stage Road Highland Village, TX 75077

3 Beds 2 Baths 2,564 sqft Built 2005

$385,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.16
  • 6 Days on Market
  • MLS # : 14489493
  • Updated Date : 12/27/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,564 sqft
  • Baths : 2 full
Listing Agent

Your Home Free Llc

Listing Agent's Description

Immaculately maintained 1.5-story in terrific Highland Village location with beautiful brick elevation! Inside you will find 3 bedrooms, 2 full baths, formal dining area, executive study with French doors, upstairs game room, and 2-car garage! Upgrades and amenities throughout include gorgeous hardwood flooring, vaulted ceilings, decorative lighting fixtures, extensive crown molding, new downstairs AC unit 2017, new water heater 2018, and MORE! Gourmet kitchen boasts an abundance of cabinetry and counter space, gas cooktop, double ovens, and cozy nook. Private master suite offers his and hers sinks, jetted tub with separate shower, and walk-in closet. Expansive backyard patio space is great for entertaining!

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

Zip Code: 75077

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k388k

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

Zip Code: 75077

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262736

* 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
Heritage Elementary School Primary Regular 651 39 10
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Heritage Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 39
10
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,420
Property Tax -$705
Property Insurance -$175
HOA -$42
Property Management Fees -$99
CASH FLOW
-$101

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.

$385,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,385

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,3404$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 2904 Butterfield Stage Road Highland Village, TX 3
    • 3 beds 2 baths ∙ 2,564 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,564 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.91
    •  
  • 6310 Branchwood Trail Flower Mound, TX 1
    • 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 1996
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 2500 Blue Ridge Trail Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1996
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
  • 2509 Cross Haven Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 850 Kingwood Court Highland Village, TX 5
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489493
Last Updated: 12/27/2020
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