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329 Foxthorne Way Little Elm, TX 75068

3 Beds 3 Baths 2,655 sqft Built 2020

INVESTimate

$390,367

List Price

$2,140

$1,926 - $2,354

Rent Est.

$419,918  ( +7.57%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $147.03
  • 8 Days on Market
  • MLS # : 14416536
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,655 sqft
  • Baths : 2 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME! Welcome home! The Bluebonnet offers a wonderful open plan with an upstairs bonus room. The study is enclosed with French doors & there is plenty of storage with closets and cabinets. Tall ceilings with 8' doors throughout and loads of light all throughout the great room. Enjoy the oversized patio, relaxing at the enormous island, escaping to the quiet upstairs loft style lounge or game room. Designer color selections make the home on-point! So much to offer you in this fabulous bedroom community of Prairie Oaks in the heart of the metroplex. Don't forget to ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy saver program!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

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
Cross Oaks Elementary School Primary Regular 596 40 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Cross Oaks Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 40
6
GreatSchools Rating

Navo Middle School

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

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$351,330$429,404$390,367

PURCHASE PRICE

$1,926$2,354$2,140

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,440
Property Tax -$818
Property Insurance -$181
HOA -$63
Property Management Fees -$99
CASH FLOW
-$461

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$390,367

PROJECTED PRICE

$2,140

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.57%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,447

INVESTMENT

$105,447

Down Payment
$97,592
Rehab Estimate
$2,000
Closing Costs
$5,856

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,440

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,592
Loan Amount $292,775
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$260

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,197

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,1404$2,2005$2,390
$2,390
RENT COMPS ANALYSIS
  • 329 Foxthorne Way Little Elm, TX 3
    • 3 beds 3 baths ∙ 2,655 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,655 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.81
    •  
  • 8705 King Ranch Drive Cross Roads, TX 1
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2005
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 8208 Yukon Lane Aubrey, TX 2
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1328 Red River Drive Aubrey, TX 4
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2015
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 1608 Silver Lane Aubrey, TX 5
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2017
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416536
Last Updated: 08/20/2020
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