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3427 Lakewood Lane Flower Mound, TX 75022

5 Beds 4 Baths 3,539 sqft Built 1982

$475,000

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $134.22
  • 4 Days on Market
  • MLS # : 14469890
  • Updated Date : 11/18/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,539 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Sequestered among mature trees is this amazing home just minutes to Lake Grapevine! Fresh interior paint! Completely updated Kit shines w-gray painted cabs, granite countertops, SS apps & overlooks the sunny breakfast nook! Expansive Living w-beamed ceilings & a floor to ceiling stone fireplace is perfect for entertaining! Game or Media Room is decked out with a dry bar w-a built in fridge! Huge utility room with storage space galore! Great sized Guest Bedrooms! Private Study features ceilings decorated w-crown molding. Romantic Master Suite is adorned w-beamed ceilings, it's completely private. Huge Backyard w-balcony & lg patio that overlooks the MASSIVE yard! Great location & move in ready home!

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: Franklin Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Franklin Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$1,753
Property Tax -$820
Property Insurance -$232
Property Management Fees -$99
CASH FLOW
$287

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.

$475,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$0.0$5.0k$10k$15k$20k$25k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$57,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,928

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,190
1$3,1902$4,200
$4,200
RENT COMPS ANALYSIS
  • 3427 Lakewood Lane Flower Mound, TX 1
    • 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 1982 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.90
    •  
  • 1422 Latigo Lane Bartonville, TX 2
    • 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1999
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.11
    •  
PROPERTY LISTING DETAILS
Michael Hershenberg
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469890
Last Updated: 11/18/2020
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