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297 Aaron Drive Lewisville, TX 75067

4 Beds 4 Baths 2,800 sqft Built 2017

$450,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $160.71
  • 7 Days on Market
  • MLS # : 14520509
  • Updated Date : 02/26/2021 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Wow! This is the one! Welcome home! This stunning home is situated on a corner lot in Crescent Estates. You can relax near the fireplace in the large family room, or you can entertain your family & guests in the gourmet style kitchen with granite counter tops and an island with extra seating. Owner suite is perfect for king size furniture. Luxurious master bath with granite, garden tub, dual sinks, and separate shower. The staircase leads to your very own gameroom, media room and 3 bedrooms, one of them with extra storage. New Roof. Great back covered patio! Fantastic location close to everything!

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: 75067

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k290k

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

Zip Code: 75067

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10501939

* 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
Degan Elementary School Primary Regular 650 41 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Degan Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 41
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,563
Property Tax -$776
Property Insurance -$189
HOA -$33
Property Management Fees -$99
CASH FLOW
-$400

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.

$450,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1503$2,2604$2,495
$2,495
RENT COMPS ANALYSIS
  • 297 Aaron Drive Lewisville, TX 3
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.81
    •  
  • 1001 Columbia Drive Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 1998
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 1104 Taylor Lane Lewisville, TX 2
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 1997
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 1006 Cordero Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 3,082 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,082 Sqft ∙ Built 2017
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
Elsy Camacho
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 #: 14520509
Last Updated: 02/26/2021
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