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337 Windmill Drive Lavon, TX 75166

3 Beds 2 Baths 1,882 sqft Built 2003

$284,997

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $151.43
  • 6 Days on Market
  • MLS # : 14462395
  • Updated Date : 11/01/2020 at 07:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,882 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

**MULTIPLE OFFERS H&B DUE 11-1-20 7PM** IMMACULATE 3 BEDROOM, 2 BATH WITH STUDY ON .85 ACRES IN LAVON!! COMPLETELY REMODELED AND MOVE IN READY! ATTENTION TO DETAIL AT EACH TURN WITH LUXURY VINYL PLANK FLOORS IN MAIN AREAS, ROOF 9-2020, PAINT, UPDATED BATHROOMS AND KITCHEN, PARTIAL FENCE REPLACEMENT, AND SO SO MUCH MORE! WALK IN AND PAST THE GLASS FRENCH DOOR STUDY AND INTO THE HUGE OPEN LIVING AREA WITH AMPLE LIGHT AND WBFP. NEW CRISP WHITE CABINETS TOPPED WITH EXOTIC GRANITE, STAINLESS STEEL APPL, BREAKFAST BAR AND EAT IN DINING AREA! DINING AREA WITH BAY WINDOW AND PLANT LEDGES. LARGE MASTER SUITE WITH PRIVATE BATH FEATURING DUAL SINKS, EXOTIC GRANITE, JETTED TUB, SEP SHWR AND HUGE WIC.

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$256,497$313,497$284,997

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,052
Property Tax -$547
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$163

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.

$284,997

PROJECTED PRICE

$1,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,274

INVESTMENT

$81,274

Down Payment
$71,249
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,249
Loan Amount $213,748
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6703$1,6954$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 337 Windmill Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.89
    •  
  • 498 Eisenhower Lane Lavon, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 310 San Jacinto Drive Lavon, TX 3
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 808 Austin Lane Lavon, TX 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 266 Houston Street Lavon, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Aaron Morrow
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462395
Last Updated: 11/01/2020
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