Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3608 Veronica Drive Flower Mound, TX 75022

4 Beds 4 Baths 3,372 sqft Built 2001

$550,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $163.11
  • 2 Days on Market
  • MLS # : 14514331
  • Updated Date : 02/06/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,372 sqft
  • Baths : 3 full , 1 half
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Stunning home on 0.3 acre lot in the desirable Wellington Estates! Gorgeous curb appeal and stone elevation welcome you to soaring ceilings, hardwood floors, updated lighting and fixtures and custom built-ins. Kitchen with granite countertops, island, ceramic tile, 42 inch cabinets, large walk-in pantry. Master bath with sitting area, jetted tub, oversized shower & separate vanities. Dedicated study with French doors. Large game Room! Large covered patio! Huge backyard retreat with a custom pool, outdoor kitchen, mature trees Oversized garage!

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: Wellington Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Wellington Estates

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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,910
Property Tax -$950
Property Insurance -$222
HOA -$48
Property Management Fees -$99
CASH FLOW
-$419

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.

$550,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.51%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,952

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,816

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,6903$2,8104$2,9505$2,999
$2,999
RENT COMPS ANALYSIS
  • 3608 Veronica Drive Flower Mound, TX 3
    • 4 beds 4 baths ∙ 3,372 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,372 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.83
    •  
  • 3621 Nandina Drive Flower Mound, TX 1
    • 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2003
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.78
    •  
  • 4116 Shelby Court Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,418 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,418 Sqft ∙ Built 2003
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.79
    •  
  • 4105 Sandra Lynn Drive Flower Mound, TX 4
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.90
    •  
  • 3629 Timothy Drive Flower Mound, TX 5
    • 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.87
    •  
PROPERTY LISTING DETAILS
Nitin Gupta
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514331
Last Updated: 02/06/2021
BESbswy