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2905 Furlong Drive Flower Mound, TX 75022

4 Beds 3 Baths 2,265 sqft Built 1996

$375,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $165.56
  • 3 Days on Market
  • MLS # : 14500200
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,265 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

OPEN HOUSE SAT & SUN 2-4. Light & Bright East Facing Home w-Great 4-3-2 Floorplan in Wellington’s Popular Master Planned Community. 4 Bdrms-All Split w-Master Bedrm & 2nd Bedrm located Downstairs w-adjacent Bath. Beautiful Hardwood Floors thru-out w-Tile in Wet Areas. All Rooms Generously Sized. Island KIT Open to Spacious Familyroom w-Fireplace & Wall of Windows to Make for Brightly-Lit Home. Many Updates Include Master Bath w-Granite C-tops, New Paint, Corner Tub & Large Walk-in Closet. Two XL Bedrooms Upstairs w-Updated Full Bath. Expansive Wrap-Around Concrete Outdoor Patio Ideal for Entertaining+Lush Yard w-Large Mature Trees Front & Back. Both HVAC Replaced 2020. Amenities Include: Pool, Fitness & Tennis.

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: Canterbury Row

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Canterbury Row

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
Wellington Elementary School Primary Regular 903 54 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Wellington Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 54
10
GreatSchools Rating

Mckamy Middle School

  • Education Level: Middle
  • # of students: 1,110
  • # of teachers: 69
10
GreatSchools Rating

Flower Mound High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,303
Property Tax -$648
Property Insurance -$158
HOA -$68
Property Management Fees -$99
CASH FLOW
$125

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.

$375,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$27,007

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4003$2,4954$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2905 Furlong Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 3529 Kales Lane Flower Mound, TX 1
    • 3 beds 2 baths ∙ 2,153 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,153 Sqft ∙ Built 1997
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.07
    •  
  • 3620 Dresage Lane Flower Mound, TX 3
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 1997
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.16
    •  
  • 3608 Dresage Lane Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 3632 Dresage Lane Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Marlene Stone
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500200
Last Updated: 01/15/2021
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