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321 Warwick Boulevard Lewisville, TX 75056

4 Beds 3 Baths 3,276 sqft Built 2016

INVESTimate

$499,900

List Price

$3,010

$2,760 - $3,260

Rent Est.

$543,741  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $152.59
  • 6 Days on Market
  • MLS # : 14417688
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,276 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful Highland Home, bright open floor plan. Extended Master & 2nd bedroom down, perfect for nursery-guests. Hardwood floors- entry, formal dining, family room, kitchen & breakfast nook + upgraded carpet. Stone Fireplace as a beautiful centerpiece. Granite countertops & Stainless appliances. EXTENDED COVERED PATIO makes for great outdoor living, total private backyard. Upstairs, split bedrooms & both a large Gameroom plus an extra FLEX Room, currently used as playroom for kids or exercise room, 2nd office space, or Media space. A wonderful neighborhood with Community Center, Community Pool, Fitness Center, Covered Playground area. Located near grocery stores, retail, restaurants, hwy access, movie theater

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

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75056

ZipNIR 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
Peters Colony Elementary School Primary Regular 845 59 5
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Peters Colony Elementary School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 59
5
GreatSchools Rating

Lakeview Middle School

  • Education Level: Middle
  • # of students: 817
  • # of teachers: 62
3
GreatSchools Rating

The Colony High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 139
8
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$1,844
Property Tax -$1,252
Property Insurance -$217
HOA -$70
Property Management Fees -$99
CASH FLOW
-$472

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.

$499,900

PROJECTED PRICE

$3,010

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,222

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,202

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,0104$3,1005$3,500
$3,500
RENT COMPS ANALYSIS
  • 321 Warwick Boulevard Lewisville, TX 3
    • 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $0.92
    •  
  • 608 Highwood Trail Lewisville, TX 1
    • 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.92
    •  
  • 604 Wiltshire Boulevard Lewisville, TX 2
    • 4 beds 4 baths ∙ 3,111 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,111 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.95
    •  
  • 708 Wiltshire Boulevard Lewisville, TX 4
    • 4 beds 4 baths ∙ 3,085 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,085 Sqft ∙ Built 2015
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.00
    •  
  • 812 Winehart Street Lewisville, TX 5
    • 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 2016
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Brad Popoff
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417688
Last Updated: 08/21/2020
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