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409 Bird Creek Drive Little Elm, TX 75068

4 Beds 2 Baths 2,025 sqft Built 2018

$305,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $150.62
  • 3 Days on Market
  • MLS # : 14523396
  • Updated Date : 03/05/2021 at 11:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,025 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Stunning single story 4-2-2 with office and covered patio that backs to greenspace! Millbrook floorplan boasting spacious open concept dining & kitchen with gorgeous glass backsplash, granite countertops, ss appliances, and upgraded lighting fixtures and fans throughout. Primary has dual sink vanity, W-I shower, soaking tub, private water closet, & HUGE W-I closet. Gutters, 16 SEER HVAC, HERS rated, Low E double pane vinyl windows, private backyard, and front-back sprinkler system. Enjoy the amenity center, 4 Junior Olympic size pools, 2 fitness facilities, and hike-bike trails. No rental restrictions!

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,059
Property Tax -$639
Property Insurance -$144
HOA -$33
Property Management Fees -$99
CASH FLOW
-$125

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.

$305,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9504$1,9985$2,075
$2,075
RENT COMPS ANALYSIS
  • 409 Bird Creek Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 313 Bird Creek Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 2014
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 516 Fossil Creek Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2018
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 224 Bird Creek Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2009
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $1.01
    •  
  • 609 Fossil Creek Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2018
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.02
    •  
PROPERTY LISTING DETAILS
Claire Loveless
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523396
Last Updated: 03/05/2021
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