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3413 Falken Court Highland Village, TX 75077

5 Beds 4 Baths 4,260 sqft Built 2002

$525,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $123.24
  • 1 Days on Market
  • MLS # : 14531855
  • Updated Date : 03/13/2021 at 08:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,260 sqft
  • Baths : 4 full
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

Here's your chance to live in sought after Highland Village nestled into Castelwood across from trails, courts, park and pool! Enter from the flagstaff walkway into a beautifully maintained home! Spacious master w fireplace is downstairs spit from an office across from a full bath that can be used as an additional downstairs bedroom if desired. Open kitchen equipped with SS appliances, granite and light cabinets opens up to living area and views of the backyard. Upstairs is 4 addtl bedrooms and 2 full baths. Enjoy a game of pool in the upstairs living room and your favorite movie in the media room equipped with a wet bar, mini fridge, surround sound & projector! Nearby shopping, restaurants, movies and more!

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$1,824
Property Tax -$961
Property Insurance -$273
HOA -$54
Property Management Fees -$99
CASH FLOW
$179

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.

$525,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.65%

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$1.6M

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$38,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $3,664

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,3903$3,8004$4,000
$4,000
RENT COMPS ANALYSIS
  • 3413 Falken Court Highland Village, TX 2
    • 5 beds 4 baths ∙ 4,260 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,260 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $0.80
    •  
  • 100 Thistle Court Highland Village, TX 1
    • 4 beds 4 baths ∙ 4,436 Sqft ∙ Built 1992 4 beds 4 baths ∙ 4,436 Sqft ∙ Built 1992
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $0.74
    •  
  • 1401 Goldenrod Circle Lantana, TX 3
    • 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2009 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2009
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.92
    •  
  • 2805 Deerhurst Drive Highland Village, TX 4
    • 4 beds 4 baths ∙ 4,332 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,332 Sqft ∙ Built 2006
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.92
    •  
PROPERTY LISTING DETAILS
Timi Grogan
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531855
Last Updated: 03/13/2021
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