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3117 Manuel Creek Drive Little Elm, TX 75068

3 Beds 2 Baths 1,650 sqft Built 2017

$263,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $159.94
  • 4 Days on Market
  • MLS # : 14516573
  • Updated Date : 02/11/2021 at 08:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Kanam Realty Group

Listing Agent's Description

Amazing, 2017 NEW and modern, 3 bed, 2 bath, open design. Your new home, great starter, or investment home, well-maintained in the up and coming neighborhood of Paloma Creek in Little Elm. Minutes from N. Dallas Tollway, 380, and Lake Lewisville. Lots of shopping, dinning, and entertainment. The Star in Frisco, FC Dallas at Toyota Stadium, Shops of Legacy, to name a few with more shops and entertainment in the works. Home sits new, fresh paint, granite counter tops, clean, and very well-maintained. Make this your new home or next investment venture. Very hot location and will move fast. More Photos to come!

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$237,510$290,290$263,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$917
Property Tax -$553
Property Insurance -$123
HOA -$31
Property Management Fees -$99
CASH FLOW
-$72

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.

$263,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,684

INVESTMENT

$75,684

Down Payment
$65,975
Rehab Estimate
$5,750
Closing Costs
$3,959

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$917

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,975
Loan Amount $197,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,6955$1,710
$1,710
RENT COMPS ANALYSIS
  • 3117 Manuel Creek Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 3101 Montserrat Creek Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2017
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 3109 Montserrat Creek Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2017
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 3112 Adrian Creek Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2017
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.04
    •  
  • 3024 Manuel Creek Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2016
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.97
    •  
PROPERTY LISTING DETAILS
Steve Dominguez
Kanam Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516573
Last Updated: 02/11/2021
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