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405 Windward Drive Little Elm, TX 75068

4 Beds 3 Baths 2,250 sqft Built 2017

$385,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $171.11
  • 3 Days on Market
  • MLS # : 14491328
  • Updated Date : 01/23/2021 at 16:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,250 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

MULTIPLE OFFERS! BEST AND FINAL DUE BY 5PM ON SUNDAY, 01-24-2021. Don't miss out on this wonderful, Frisco ISD, 4 bed, 3 bath home! Huge backyard, tinted windows and low HOA fees. The open floor plan is great for entertaining offering a great flow. Owners suite offers a bay window, dual shower head Glam shower as well as his and her closets! Salem woodwork tile floors run throughout this property while 42 inch painted cabinet uppers invite you to the classic kitchen with an upgraded natural stone island. With nearly a third of an acre this backyard boasts room to build and invites you to host your next family gathering. Builders foundation & structural 10 yr warranty conveys with property.

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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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Weldon F. Corbell Elementary School Primary Regular 714 44 8
Robert Cobb Middle School Middle Regular 909 63 NA
Lone Star High School High Regular 1,365 105 NA

Weldon F. Corbell Elementary School

  • Education Level: Primary
  • # of students: 714
  • # of teachers: 44
8
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,337
Property Tax -$807
Property Insurance -$157
HOA -$10
Property Management Fees -$99
CASH FLOW
-$270

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.

$385,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9753$2,0504$2,1405$2,195
$2,195
RENT COMPS ANALYSIS
  • 405 Windward Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.95
    •  
  • 2165 Kiowa Court Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 2004
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 2145 Kiowa Court Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 2003
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 617 Windward Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2016
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
  • 425 Windward Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2017
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jonathan Chacon
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491328
Last Updated: 01/23/2021
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