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3020 Hereford Drive Lewisville, TX 75056

3 Beds 3 Baths 2,422 sqft Built 2009

$400,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $165.15
  • 2 Days on Market
  • MLS # : 14482242
  • Updated Date : 12/19/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,422 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

Move into one of the most premier, award-winning master-planned and mixed-use communities, Castle Hills North with endless amenities!! This beautiful home features a fantastic floorplan with a downstairs office with closet + french doors, a large formal dining, open concept kitchen overlooking the living room + a cozy fireplace. Three large bedrooms with an added bonus media or game room can be found upstairs. Lots of storage space, natural light and new light fixtures throughout. Castle Hills offers multiple pools, parks, BB, Volleyball and Tennis courts, a gym with fantastic dining & shopping and so much more. Run, don't walk! This won't last!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Castle Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Castle Hills

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
Independence Elementary School Primary Regular 790 51 5
Killian Middle School Middle Regular 950 65 7
Hebron High School High Regular 2,458 138 7

Independence Elementary School

  • Education Level: Primary
  • # of students: 790
  • # of teachers: 51
5
GreatSchools Rating

Killian Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 65
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,476
Property Tax -$690
Property Insurance -$167
HOA -$72
Property Management Fees -$99
CASH FLOW
$97

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.

$400,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.7%
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$1.2M

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$31,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,6004$2,9005$3,100
$3,100
RENT COMPS ANALYSIS
  • 3020 Hereford Drive Lewisville, TX 3
    • 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 2404 Hardrock Castle Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.07
    •  
  • 2725 Cole Castle Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.08
    •  
  • 3213 Damsel Sauvage Lane Lewisville, TX 4
    • 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 2018
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.23
    •  
  • 3117 Damsel Sauvage Lane Lewisville, TX 5
    • 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 2018
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.24
    •  
PROPERTY LISTING DETAILS
Shermin Murphy
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482242
Last Updated: 12/19/2020
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