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3605 Parkside Place Flower Mound, TX 75022

5 Beds 3 Baths 3,205 sqft Built 1996

$469,900

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $146.61
  • 5 Days on Market
  • MLS # : 14534015
  • Updated Date : 03/17/2021 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,205 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors - The Harrell Group

Listing Agent's Description

Stunning 5 bedroom home located on a quiet cul-de-sac with a spacious, private lot in Wellington. Fantastic schools including Wellington Elementary and its STEM classes as well as Flower mound High. On the first floor, the home offers a great kitchen with island, private study, two living areas and formal dining. Upstairs features a massive master bedroom with sitting area and huge bathroom with oversized tub and shower, and four additional generous bedrooms. Spectacular backyard with terraced deck and towering pine trees. 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 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: Canterbury Row

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Canterbury Row

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Wellington Elementary School Primary Regular 903 54 10
Mckamy Middle School Middle Regular 1,110 69 10
Flower Mound High School High Regular 2,550 157 10

Wellington Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 54
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
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,632
Property Tax -$811
Property Insurance -$212
HOA -$68
Property Management Fees -$99
CASH FLOW
-$63

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.

$469,900

PROJECTED PRICE

$2,760

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,885

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,7604$2,8005$2,895
$2,895
RENT COMPS ANALYSIS
  • 3605 Parkside Place Flower Mound, TX 3
    • 5 beds 3 baths ∙ 3,205 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,205 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.86
    •  
  • 2717 Stanford Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 1999
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
  • 3209 Dwyer Lane Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2000
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 3628 Parkside Place Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 1995
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.91
    •  
  • 3228 Kent Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2001
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.92
    •  
PROPERTY LISTING DETAILS
Cory Wrenn
Weichert Realtors - The Harrell Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534015
Last Updated: 03/17/2021
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