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4128 1 Place Lane Flower Mound, TX 75028

3 Beds 2 Baths 1,370 sqft Built 2000

$247,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $180.29
  • 2 Days on Market
  • MLS # : 14471125
  • Updated Date : 11/22/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful two story home nestled on an over-sized corner lot in Flower Mound. This 3 bedroom, 2 bath features an open concept floor plan that's perfect for entertaining during the holidays. Gather friends and family in the spacious dining room or in the kitchen which offers a portable island and gas cook-top. Enjoy cozying up next to the warm fireplace on cool winter nights. Secluded first floor owner's suite is complete with a WIC and en suite with his & her sinks. Private upstairs space for kids with two good sized bedrooms and updated bath highlighted by gorgeous wallpaper. Enjoy the generous green space outdoors in the fenced in backyard. Don't miss this wonderful opportunity. Welcome home!

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: Timber Creek Garden Homes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $101k402k

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

Neighborhood: Timber Creek Garden Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9882573

* 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
Timber Creek Elementary School Primary Regular 470 32 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 32
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$222,300$271,700$247,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$911
Property Tax -$427
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$127

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.

$247,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6705$1,700
$1,700
RENT COMPS ANALYSIS
  • 4128 1 Place Lane Flower Mound, TX 4
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.22
    •  
  • 3901 Granby Lane Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2004
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 1816 Chestnut Court Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1983
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 1217 River Oaks Drive Flower Mound, TX 3
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 1749 Prescott Drive Flower Mound, TX 5
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1991
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.13
    •  
PROPERTY LISTING DETAILS
Clint Chasteen
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471125
Last Updated: 11/22/2020
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