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3617 Water Mill Way Northlake, TX 76226

4 Beds 3 Baths 2,237 sqft Built 2020

$365,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $163.16
  • 5 Days on Market
  • MLS # : 14469807
  • Updated Date : 11/14/2020 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,237 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14469807 - Built by Ashton Woods Homes - Ready Now! ~ New luxury Ashton Woods home within amenity-rich community of Canyon Falls in Northlake near Flower Mound! Beautiful extras include hardwood flooring, family room gas fireplace & master bedroom extension. Formal dining AND breakfast area! Upgraded kitchen has bar top island, Quartz countertops, pot-pan drawers, 40 inch cabinets, pull-out waste basket, herringbone backsplash, Energy Star Stainless Steel Whirlpool gas appliances & brushed nickel hardware. Master suite with double-sink vanity, drop-in tub, ceramic tile shower & walk-in closet. Also has mud room, backyard covered patio, 10' ceilings, pre-wired for smart home entertainment.

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: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,347
Property Tax -$726
Property Insurance -$156
HOA -$203
Property Management Fees -$99
CASH FLOW
-$591

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,725

INVESTMENT

$98,725

Down Payment
$91,250
Rehab Estimate
$2,000
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,718

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,5003$2,5004$2,5305$2,700
$2,700
RENT COMPS ANALYSIS
  • 3617 Water Mill Way Northlake, TX 1
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.87
    •  
  • 1122 Berrydale Drive Northlake, TX 2
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1104 Parkdale Drive Northlake, TX 3
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1408 Wolfberry Lane Northlake, TX 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.23
    •  
  • 1509 Tumbleweed Trail Northlake, TX 5
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469807
Last Updated: 11/14/2020
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