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3408 Sherwood Lane Highland Village, TX 75077

4 Beds 4 Baths 3,669 sqft Built 2004

$549,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $149.63
  • 5 Days on Market
  • MLS # : 14498803
  • Updated Date : 01/23/2021 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,669 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

HARD TO FIND LARGE PRIVATE HEAVILY WOODED LOT BACKS TO CORPS OF ENGINEER PROPERTY IN HIGHLY SOUGHT AFTER CASTLEWOOD NEIGHBORHOOD! Great 1.5 story floorplan with large game room & media or 4th bed and full bath up. Extensive hardwood flooring, study, plantation shutters. Updated Gourmet kitchen with stainless steel appliances, butlers pantry, gas cooktop & granite counters. HUGE master suite. Convenient floored walk out attic upstairs. Large covered patio wired for surround sound. Storage shed. 3rd garage has conversion with built-ins and HVAC! THIS HOUSE HAS RECEIVED MULTIPLE OFFERS. PLEASE PRESENT YOUR FINAL AND BEST BY NOON ON SUNDAY, JANUARY 24TH. Seller's will decide no later than Monday, January 25th.

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: Castlewood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k492k

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

Neighborhood: Castlewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263302

* 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
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,907
Property Tax -$1,005
Property Insurance -$239
HOA -$54
Property Management Fees -$99
CASH FLOW
-$334

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.

$549,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,990

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7503$2,8504$2,9705$3,100
$3,100
RENT COMPS ANALYSIS
  • 3408 Sherwood Lane Highland Village, TX 4
    • 4 beds 4 baths ∙ 3,669 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,669 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.81
    •  
  • 4203 Lansbury Drive Highland Village, TX 1
    • 4 beds 3 baths ∙ 3,476 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,476 Sqft ∙ Built 2006
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 4207 Lansbury Drive Highland Village, TX 2
    • 5 beds 4 baths ∙ 3,423 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,423 Sqft ∙ Built 2006
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
  • 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
    •  
  • 706 Live Oak Highland Village, TX 5
    • 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Shirley Johnson
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 #: 14498803
Last Updated: 01/23/2021
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