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3109 Brookhollow Lane Flower Mound, TX 75028

4 Beds 3 Baths 2,478 sqft Built 1992

$380,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $153.35
  • 3 Days on Market
  • MLS # : 14465471
  • Updated Date : 11/06/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dallas Midtown

Listing Agent's Description

You asked - the Seller listened! UPDATED! Wonderful, 4 bedroom home zoned to Lewisville ISD! Better yet this home is zoned to LISD's STEM elementary school - Donald Elementary. Spacious U-shaped kitchen offers uninterrupted views of both the living room and eat-in kitchen and features an electric cooktop, recessed lighting & more. First-floor master suite offers vaulted ceilings, a ceiling fan & an en-suite bath with dual sinks, a garden tub & separate shower. Upstairs enjoy the well-sized secondary bedrooms. With convenient access to neighborhood biking and jogging trails, Possum Park & nearby shopping, entertainment & DFW Airport - you'll love this move-in ready home!

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

Neighborhood: Creek Wood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Creek Wood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Donald Elementary School Primary Regular 497 36 7
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Donald Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 36
7
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,402
Property Tax -$656
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$128

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.

$380,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,416

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3994$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 3109 Brookhollow Lane Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 2909 Brookhollow Lane Flower Mound, TX 1
    • 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 1991
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
  • 3400 Dowland Drive Flower Mound, TX 3
    • 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1997
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $1.00
    •  
  • 3300 Cottrell Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 2101 Becket Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1995
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Clay Garrett
Keller Williams Dallas Midtown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465471
Last Updated: 11/06/2020
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