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3513 Ophel Way Flower Mound, TX 75028

4 Beds 4 Baths 3,532 sqft Built 2016

$625,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $176.95
  • 3 Days on Market
  • MLS # : 14465914
  • Updated Date : 11/07/2020 at 11:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,532 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Elegant Flower Mound home built in 2016! Upgraded Stone exterior, 3 Car Garage with Cedar Overhead doors on roughly .23 acres has plenty of room for a pool! The 20ft Ceilings & dramatic entry, Nailed Down Wood Flooring & Crown Molding, Wainscoting with Shutters is indicative of a Quality Home. Open Kitchen with Abundant Natural Light is accented by Upgraded Gas Range Top, Professional Vent, Extensive Cabinetry & Huge entertainment Island. Owners Suite is Large with Texas Sized Closet including a 3rd Row Seasonal Rack. 2nd Bedroom Downstairs has a private full bath. The Game & Media Room are perfect for movie or game night! Bedroom 3 & 4 are perfect sized rooms. This home is priced to sell, don’t miss it!

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: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR 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
Forest Vista Elementary School Primary Regular 546 37 9
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Forest Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 37
9
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,306
Property Tax -$1,079
Property Insurance -$231
HOA -$50
Property Management Fees -$99
CASH FLOW
-$605

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.

$625,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,191

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$2,9504$3,160
$3,160
RENT COMPS ANALYSIS
  • 3513 Ophel Way Flower Mound, TX 4
    • 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $0.89
    •  
  • 2200 Cheshire Drive Flower Mound, TX 1
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 1105 Bur Oak Drive Flower Mound, TX 2
    • 5 beds 3 baths ∙ 3,203 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,203 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 3712 Wicklow Court Flower Mound, TX 3
    • 4 beds 3 baths ∙ 3,313 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,313 Sqft ∙ Built 1999
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jeffrey Blasko
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465914
Last Updated: 11/07/2020
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