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332 Teakwood Lane Lewisville, TX 75067

3 Beds 2 Baths 1,396 sqft Built 1983

$215,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $154.01
  • 4 Days on Market
  • MLS # : 14484058
  • Updated Date : 12/11/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Recently refreshed, very well kept 3 bedroom, 2 bath cozy home ready for you and your family. Renovations include new siding throughout (Oct '19), retaining wall (Nov '19), tile flooring in living area, tub resurfacing 2020, AC unit (Apr '19) and repainting all rooms 2020. Large master is off the living room while other bedrooms are at the back, off the kitchen and dining area so great for privacy. Large living room with breakfast bar. Fridge stays. Full sized laundry room off kitchen is very convenient. Nice private fenced side yard. Rear parking with storage shed. Close to highways and shopping! A must see! Multiple offers received. Please submit highest and best by Sunday Dec 13th, 3pm. Thank you!

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: Meadow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Neighborhood: Meadow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451939

* 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
Southridge Elementary School Primary Regular 692 53 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Southridge Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 53
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$793
Property Tax -$371
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$139

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.

$215,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$25,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5004$1,5105$1,625
$1,625
RENT COMPS ANALYSIS
  • 332 Teakwood Lane Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.08
    •  
  • 239 Teakwood Lane Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 728 Willow Oak Drive Lewisville, TX 2
    • 3 beds 4 baths ∙ 1,439 Sqft ∙ Built 1991 3 beds 4 baths ∙ 1,439 Sqft ∙ Built 1991
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 323 Teakwood Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1983
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 569 Continental Drive Lewisville, TX 5
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1996
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.14
    •  
PROPERTY LISTING DETAILS
Nicole Hoover
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 #: 14484058
Last Updated: 12/11/2020
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