Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

300 Ridgewood Drive Lewisville, TX 75067

4 Beds 4 Baths 2,827 sqft Built 2015

$505,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $178.63
  • 5 Days on Market
  • MLS # : 14517407
  • Updated Date : 02/27/2021 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,827 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

MULTIPLE OFFERS. Prime location with great curb appeal and a treasure trove of amenities nearby! This open concept floor plan is great for entertaining! Chef's kitchen opens to the spacious living area & features a butler's pantry, SS appliances, recessed lighting, gas burner cook top, large island, granite counters & an eat-in kitchen that leads out to a covered back patio perfect for enjoying your morning coffee! Owner's bath retreat features a soaking tub, separate vanities, gorgeous spa-like shower & WIC! Highlights include wood floors through the main areas, game room, upstairs bedroom w ensuite bath, mud area plus laundry room with built-in cabinets, and large yard space perfect for backyard BBQ!

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

$454,500$555,500$505,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,754
Property Tax -$871
Property Insurance -$191
HOA -$57
Property Management Fees -$99
CASH FLOW
-$331

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.

$505,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.52%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4004$2,5005$2,640
$2,640
RENT COMPS ANALYSIS
  • 300 Ridgewood Drive Lewisville, TX 5
    • 4 beds 4 baths ∙ 2,827 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,827 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.93
    •  
  • 214 Lairds Drive Coppell, TX 1
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2000
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 910 Kilbridge Lane Coppell, TX 2
    • 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 2001
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 140 Fallkirk Drive Coppell, TX 3
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1999
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 828 Mullrany Drive Coppell, TX 4
    • 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2000
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Robin Glaysher
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517407
Last Updated: 02/27/2021
BESbswy