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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $159.39
- 5 Days on Market
- MLS # : 14488319
- Updated Date : 12/24/2020 at 11:53
CONSTRUCTION
- Beds : 3
- Floor Size : 1,443 sqft
- Baths : 2 full
Listing Agent
Orchard Brokerage
Listing Agent's Description
Click the Virtual Tour link to view the 3D Matterport walkthrough. Charming single-story home on a spacious interior lot in a quiet subdivision close to schools, community parks, and Lake Lewisville. Nicely landscaped and a two-car garage. Open concept with generous room sizes and great natural light throughout the home. The family room has a beautiful recessed ceiling with crown molding. The kitchen features granite counters with an island and breakfast bar, stainless steel appliances, a pantry, and an adjacent breakfast area. The master has a walk-in closet and a 5-piece bath. The patio looks out to the private yard. A great place to relax and entertain guests. Cleaned and disinfected on a regular basis.
SEE MORE
- . 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: Paloma Creek South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paloma Creek South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,560 |
| EXPENSES | Loan Payment | -$849 |
| Property Tax | -$482 | |
| Property Insurance | -$111 | |
| HOA | -$31 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$11
|
||
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.
$230,000
PROJECTED PRICE
$1,560
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$66,700
LOAN DETAILS
$849
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $57,500 |
| Loan Amount | $172,500 |
4.33
YEARS SAVED
$11,426
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,560
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$1,551
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
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3020 Manuel Creek Drive Little Elm, TX 1
- 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $1,560
- $1.08
-
928 Rivers Creek Lane Little Elm, TX 2
- 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2017
LEASED 09/07/20- Rent
- Rent Per SQFT
- $1,595
- $1.11
-
1432 Abby Creek Drive Little Elm, TX 3
- 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014
LEASED 01/02/20- Rent
- Rent Per SQFT
- $1,600
- $1.12
-
3109 Montserrat Creek Drive Little Elm, TX 4
- 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2017
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,695
- $1.03
-
3112 Adrian Creek Drive Little Elm, TX 5
- 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2017
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,695
- $1.04
PROPERTY LISTING DETAILS
Orchard Brokerage
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14488319
Last Updated: 12/24/2020
