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3116 Wood Trail Flower Mound, TX 75022

3 Beds 3 Baths 2,507 sqft Built 1997

$478,337

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $190.80
  • 4 Days on Market
  • MLS # : 14498889
  • Updated Date : 01/14/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mersal Realty

Listing Agent's Description

Original owner two-story home built on a large premium creek lot. Many upgrades including granite countertops, laminate floors, ceramic tiled bathrooms and a full length covered patio with natural gas grill. Walk down to the lower part of the back yard to throw some horseshoes and put the dogs into their own 30 X 45 pen with a heated and air conditioned shed. The third bay of the three car garage divided into a separate workshop or man cave. There is an additional 6 X 8 garden shed in the side yard. Too many trees to make a pool feasible, so if you want to swim just walk to the pool at the end of the street, next to the park with basketball, swings, slides and climbing equipment. Outdoor living at its best.

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: Villages of Northshore

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Villages of Northshore

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
Old Settlers Elementary School Primary Regular 636 43 10
Shadow Ridge Middle School Middle Regular 721 52 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 43
10
GreatSchools Rating

Shadow Ridge Middle School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 52
10
GreatSchools Rating

Flower Mound High School

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

$430,503$526,171$478,337

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,661
Property Tax -$826
Property Insurance -$172
HOA -$39
Property Management Fees -$99
CASH FLOW
-$17

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.

$478,337

PROJECTED PRICE

$2,780

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,509

INVESTMENT

$132,509

Down Payment
$119,584
Rehab Estimate
$5,750
Closing Costs
$7,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,661

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,584
Loan Amount $358,753
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,576

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,5953$2,6004$2,7805$2,790
$2,790
RENT COMPS ANALYSIS
  • 3116 Wood Trail Flower Mound, TX 4
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.11
    •  
  • 2224 Red Maple Road Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 1994
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 2900 Meadow Green Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 2808 Lake Crest Drive Flower Mound, TX 3
    • 3 beds 2 baths ∙ 2,358 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,358 Sqft ∙ Built 1994
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.10
    •  
  • 2909 Cypress Leaf Lane Flower Mound, TX 5
    • 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 1997
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.15
    •  
PROPERTY LISTING DETAILS
Steve Trimpe
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498889
Last Updated: 01/14/2021
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