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3716 Dresage Lane Flower Mound, TX 75022

4 Beds 3 Baths 2,569 sqft Built 1997

$410,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $159.60
  • 5 Days on Market
  • MLS # : 14476659
  • Updated Date : 12/03/2020 at 10:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,569 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

CHARMING TWO-STORY IN HIGHLY SOUGHT-AFTER WELLINGTON! There's room for the whole family in this open-concept floorplan graced with split bedrooms, soaring ceilings, gorgeous floors & crown molding. Prepare meals in the updated kitchen offering granite counters, stainless steel appliances & upgraded backsplash, or unwind in the private owner's suite boasting a bay window sitting area, dual sink extended vanity & large walk-in closet with built-ins. Entertain in the huge upstairs game room showcasing a wall of built-ins, or enjoy the sizable backyard featuring a covered patio with roller shades. Recent gas furnace, Trane AC unit, roof, fence & insulation. Great location near schools & Wellington Athletic Center!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,513
Property Tax -$708
Property Insurance -$176
HOA -$68
Property Management Fees -$99
CASH FLOW
-$24

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.

$410,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.62%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,543

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4953$2,5404$2,5505$2,595
$2,595
RENT COMPS ANALYSIS
  • 3716 Dresage Lane Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.99
    •  
  • 2921 Pioneer Park Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1997
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
  • 3833 Birchmont Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2000
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.96
    •  
  • 3624 Dresage Lane Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1997
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.01
    •  
  • 4117 Amador Court Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2002
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Russell Rhodes
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476659
Last Updated: 12/03/2020
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