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3408 Darcey Court Flower Mound, TX 75022

5 Beds 4 Baths 3,587 sqft Built 2004

$528,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $147.20
  • 3 Days on Market
  • MLS # : 14511136
  • Updated Date : 02/06/2021 at 19:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,587 sqft
  • Baths : 4 full
Listing Agent

Jay Marks Real Estate

Listing Agent's Description

Darcey Ct is situated on a beautiful cul de sac lot in the desirable Wellington neighborhood in Flower Mound. This home is completely updated in all the right places. The master bathroom has been converted to a luxe spa with Invisalign glass, gorgeous cabinetry, beautiful new countertops, and fresh tile. Every bathroom updated with new countertops and backsplash. The kitchen cabinets painted white, with new backsplash and countertops, and open to the beautiful living and dining area. With a private backyard, room to run, close to 2 community pools, this property is exactly what you've been waiting for, and did I mention, it's Five full bedrooms!

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: Wellington Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Wellington Estates

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
Liberty Elementary School Primary Regular 667 43 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Liberty Elementary School

  • Education Level: Primary
  • # of students: 667
  • # 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
 

$475,200$580,800$528,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,834
Property Tax -$912
Property Insurance -$234
HOA -$53
Property Management Fees -$99
CASH FLOW
-$132

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.

$528,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.57%

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$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,670

INVESTMENT

$145,670

Down Payment
$132,000
Rehab Estimate
$5,750
Closing Costs
$7,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,000
Loan Amount $396,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,328

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,183

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$2,9994$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 3408 Darcey Court Flower Mound, TX 4
    • 5 beds 4 baths ∙ 3,587 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,587 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 3425 Courtney Drive Flower Mound, TX 1
    • 4 beds 5 baths ∙ 3,351 Sqft ∙ Built 2004 4 beds 5 baths ∙ 3,351 Sqft ∙ Built 2004
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
  • 4536 Brenda Drive Flower Mound, TX 2
    • 5 beds 4 baths ∙ 3,382 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,382 Sqft ∙ Built 2002
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.89
    •  
  • 3629 Timothy Drive Flower Mound, TX 3
    • 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.87
    •  
  • 3229 Kiley Lane Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,528 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,528 Sqft ∙ Built 2001
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jay Marks
Jay Marks Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511136
Last Updated: 02/06/2021
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