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308 Parkview Drive Trophy Club, TX 76262

3 Beds 2 Baths 2,473 sqft Built 1998

$440,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $178.29
  • 5 Days on Market
  • MLS # : 14492220
  • Updated Date : 12/30/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,473 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

YOU ARE GOING TO FALL IN LOVE WITH THIS STUNNING ORIGINAL DREES CUSTOM BUILT HOME WITH 3 BEDROOMS, 2 FULL BATHS, & A POOL! Grand entry with high ceilings & office space offers a wall of built-in bookshelves & french doors. The spacious living room is open to the kitchen and offers large windows allowing tons of natural light. The kitchen features tons of cabinetry & counter space & stainless steel appliances. Find comfort in the primary bedroom suite that offers a jetted bathtub, double vanities, & a large walk-in closet. Step out to the serene backyard & know that pool parties are just around the corner! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: The Lakes of Trophy Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k482k

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

Neighborhood: The Lakes of Trophy Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263116

* 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
Samuel Beck Elementary School Primary Regular 731 47 10
Medlin Middle School Middle Regular 1,078 65 8

Samuel Beck Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
10
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$396,810$484,990$440,900

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 -$1,627
Property Tax -$837
Property Insurance -$170
HOA -$48
Property Management Fees -$99
CASH FLOW
-$181

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.

$440,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,589

INVESTMENT

$122,589

Down Payment
$110,225
Rehab Estimate
$5,750
Closing Costs
$6,614

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,225
Loan Amount $330,675
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,274

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
  • $1.05

    LIST RENT PER SQFT
  • $2,628

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2003$2,6004$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 308 Parkview Drive Trophy Club, TX 3
    • 3 beds 2 baths ∙ 2,473 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,473 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
  • 310 Village Trail Court Trophy Club, TX 1
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 1997
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.96
    •  
  • 306 Village Trail Trophy Club, TX 2
    • 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 404 Lakewood Drive Trophy Club, TX 4
    • 3 beds 3 baths ∙ 2,327 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,327 Sqft ∙ Built 2000
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.20
    •  
  • 312 Lakewood Drive Trophy Club, TX 5
    • 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492220
Last Updated: 12/30/2020
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