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3316 Shadow Wood Circle Highland Village, TX 75077

4 Beds 4 Baths 3,180 sqft Built 1997

INVESTimate

$459,900

List Price

$2,630

$2,380 - $2,880

Rent Est.

$487,402  ( +5.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $144.62
  • 9 Days on Market
  • MLS # : 14415947
  • Updated Date : 08/25/2020 at 15:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,180 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Wonderfully maintained Highland Shores beauty nestled high on a hill with greenbelt backyard. This gem offers a fantastic floorplan with downstairs master, open concept living and dining, and two additional flex rooms downstairs which can convert into private office spaces or additional living and entertaining. One is currently an office and the second is a gym space. Expansive back patio overlooks a private greenbelt. Upstairs you'll find three generously-sized bedrooms, plus private media room. Walking distance to the community pool with a huge garage for extra storage, and phenomenal schools. Great modern touches throughout including recently renovated bathroom spaces and huge garage! Don't miss this!

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

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
 

$413,910$505,890$459,900

PURCHASE PRICE

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

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,697
Property Tax -$842
Property Insurance -$211
HOA -$68
Property Management Fees -$99
CASH FLOW
-$287

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.

$459,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.98%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,083

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
  • $0.83

    LIST RENT PER SQFT
  • $2,806

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$2,8003$2,8504$2,9955$3,100
$3,100
RENT COMPS ANALYSIS
  • 3316 Shadow Wood Circle Highland Village, TX 1
    • 4 beds 4 baths ∙ 3,180 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,180 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.83
    •  
  • 945 Crown Court Highland Village, TX 2
    • 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
  • 3025 Darlington Drive Highland Village, TX 3
    • 5 beds 3 baths ∙ 3,525 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,525 Sqft ∙ Built 2003
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 3410 Wimbledon Drive Highland Village, TX 4
    • 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
  • 3116 Creek Haven Drive Highland Village, TX 5
    • 4 beds 4 baths ∙ 3,314 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,314 Sqft ∙ Built 1999
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Craig Allen
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415947
Last Updated: 08/25/2020
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