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

4015 Ridgecrest Drive Flower Mound, TX 75022

3 Beds 3 Baths 2,787 sqft Built 1987

$535,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $191.96
  • 2 Days on Market
  • MLS # : 14411046
  • Updated Date : 11/14/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Lakehaven

Listing Agent's Description

Beautiful 2 Story 3 bed, 2.5 bath custom home in Flower Mound on heavily treed, one plus acre secluded lot in an established neighborhood. Country living plus all conveniences of town nearby. Two outside decks. All living areas downstairs & 2 bedrm & bath upstairs. Master downstairs with full masonry fireplace with gas & ensuite. Den-media room with wet bar & built-in entertainment for TV & lots of shelving. Eat in Kitchen, granite counters, island, built-in convection oven & 2 microwaves, large laundry-utility area & walk in pantry, separate formal dining. Skylights upstairs in bath, master bath, hall and flex room. Wood flooring in Living, Dining, Flex room, hall & upstair bedrms. Large garage with built-ins.

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: Hidden Valley Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Hidden Valley Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263566

* 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
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,974
Property Tax -$924
Property Insurance -$188
Property Management Fees -$99
CASH FLOW
-$595

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.

$535,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.4%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,648

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5903$2,700
$2,700
RENT COMPS ANALYSIS
  • 4015 Ridgecrest Drive Flower Mound, TX 2
    • 3 beds 3 baths ∙ 2,787 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,787 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.93
    •  
  • 100 N Woodland Trail Double Oak, TX 1
    • 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 1983
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 3613 Jennifer Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2005
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.91
    •  
PROPERTY LISTING DETAILS
Ronda Winn
Coldwell Banker Lakehaven
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14411046
Last Updated: 11/14/2020
BESbswy