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3203 Hilltop Court Highland Village, TX 75077

5 Beds 3 Baths 2,627 sqft Built 1996

$425,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $161.78
  • 2 Days on Market
  • MLS # : 14479441
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Lovely open concept floorpan on heavily treed culdesac lot in esteemed Highland Shores subdivision. Oversized master with sitting area and access to HUGE backyard. Wide doors, wheel-in shower in master, hard surface flooring, lift and 2nd bedroom on 1st floor make this home highly accessible. Second bedroom with widened doorway also makes an ideal WFH office. Large spacious bedrooms and generous game room emphasize efficient use of space. A short walk to trails skirting Lake Lewisville or one of the 3 community pools and tennis courts. Highly rated schools!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k439k

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

Neighborhood: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262941

* 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
Heritage Elementary School Primary Regular 651 39 10
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Heritage Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 39
10
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,568
Property Tax -$778
Property Insurance -$179
HOA -$68
Property Management Fees -$99
CASH FLOW
-$192

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.

$425,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.59%

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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,574

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,425
1$2,4252$2,4503$2,5004$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 3203 Hilltop Court Highland Village, TX 4
    • 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 2701 Creekside Way Highland Village, TX 1
    • 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 1990
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.90
    •  
  • 601 Hidden Oak Court Highland Village, TX 2
    • 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 1988
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
  • 850 Kingwood Court Highland Village, TX 3
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 2707 Hillside Drive Highland Village, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1990
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kristi Kintz
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479441
Last Updated: 12/05/2020
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