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3320 Furlong Court Flower Mound, TX 75022

4 Beds 4 Baths 2,972 sqft Built 1996

$445,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $149.73
  • 4 Days on Market
  • MLS # : 14466562
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,972 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Premier Properties

Listing Agent's Description

Elegant Home on quiet corner Cul de Sac loaded w $45k+ upgrades, & all of the amenities you would expect! NEW designers color, richwood flrs, soaring ceilings, custom plantation shutters, light fixtures, FP, built-ins, solar screens, 3 LG living rooms, & Fantastic open FL PN. LG KIT w upgraded granite counters, island, breakfast bar, pantry, & breakfast area. Master suite features NEW granite vanities, New sinks, custom closet, dual sinks, LG tub, & NEW Frameless shower. Sit back & relax on upgraded Cov. patio overlooking your grassy play area, iron gates & extra side yard! A rare opportunity to find high quality w attention to every detail in a phenomenal setting & extras everywhere! Excellent location!!!!

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: Canterbury Row

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Canterbury Row

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Wellington Elementary School Primary Regular 903 54 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Wellington Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 54
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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,642
Property Tax -$768
Property Insurance -$199
HOA -$68
Property Management Fees -$99
CASH FLOW
-$26

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.

$445,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,757

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,7504$2,8505$2,895
$2,895
RENT COMPS ANALYSIS
  • 3320 Furlong Court Flower Mound, TX 3
    • 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
  • 3812 Glenshannon Lane Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2002
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.95
    •  
  • 3209 Dwyer Lane Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2000
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 3601 Gaitland Circle Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1995
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.95
    •  
  • 3228 Kent Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2001
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.92
    •  
PROPERTY LISTING DETAILS
Wendy Huang
Re/max Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466562
Last Updated: 11/08/2020
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