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3313 Devonshire Court Flower Mound, TX 75022

4 Beds 3 Baths 2,452 sqft Built 1996

$417,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $170.07
  • 3 Days on Market
  • MLS # : 14516702
  • Updated Date : 02/12/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,452 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Beautiful 4 bedroom, 3 bathroom home located in middle of Flower Mound. Large front yard with great curb appeal. Open kitchen into the living room and on those great weather days, you can open the french doors and extensions out to the large backyard with a pool and hot tub.. Roof and gutters new as of 2-4-21. No survey provided. Seller will look at all offers on Sunday. Please have them in by 3 pm.

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: Churchill Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k466k

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

Neighborhood: Churchill Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262629

* 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
Mckamy Middle School Middle Regular 1,110 69 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

Mckamy Middle School

  • Education Level: Middle
  • # of students: 1,110
  • # of teachers: 69
10
GreatSchools Rating

Flower Mound High School

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

$375,300$458,700$417,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,448
Property Tax -$720
Property Insurance -$169
HOA -$29
Property Management Fees -$99
CASH FLOW
$165

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.

$417,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$116,255

INVESTMENT

$116,255

Down Payment
$104,250
Rehab Estimate
$5,750
Closing Costs
$6,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,448

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,250
Loan Amount $312,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$33,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,470

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3993$2,4954$2,6005$2,630
$2,630
RENT COMPS ANALYSIS
  • 3313 Devonshire Court Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.07
    •  
  • 2909 Brookhollow Lane Flower Mound, TX 1
    • 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 1991
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
  • 3400 Dowland Drive Flower Mound, TX 2
    • 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1997
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $1.00
    •  
  • 2721 Laurel Hill Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1991
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.02
    •  
  • 3300 Cottrell Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Wade Edwards
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516702
Last Updated: 02/12/2021
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