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3601 Wise Lane Flower Mound, TX 75022

5 Beds 4 Baths 4,476 sqft Built 2001

$675,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $150.80
  • 4 Days on Market
  • MLS # : 14515862
  • Updated Date : 02/12/2021 at 09:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,476 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

NEED MORE SPACE? Look no further than this stunning 5 bedroom home located on a quiet cul-de-sac with a spacious, private lot in the Woods at Wellington neighborhood. On the first floor, the home offers a recently updated kitchen, massive master bedroom with sitting area, private study for home office or school space, 2 living areas and formal dining. Upstairs features an expansive guest suite, 3 additional oversized bedrooms, huge bonus area perfect for a media or game room and an additional flex living space. This home is perfectly situated for easy access to great schools, lake, trails and everything Flower Mound has to offer while still providing a serene and private natural setting.

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

Neighborhood: The Woods at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k559k

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

Neighborhood: The Woods at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263600

* 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
Old Settlers Elementary School Primary Regular 636 43 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # 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
 

$607,500$742,500$675,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$2,345
Property Tax -$1,166
Property Insurance -$286
HOA -$80
Property Management Fees -$99
CASH FLOW
$75

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.

$675,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.60%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$36,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $4,610

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$4,050
1$4,0502$4,700
$4,700
RENT COMPS ANALYSIS
  • 3601 Wise Lane Flower Mound, TX 1
    • 5 beds 4 baths ∙ 4,476 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,476 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $0.90
    •  
  • 801 Surrey Lane Flower Mound, TX 2
    • 5 beds 5 baths ∙ 4,545 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,545 Sqft ∙ Built 2015
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kelly Millan
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 #: 14515862
Last Updated: 02/12/2021
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