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4200 Sharondale Drive Flower Mound, TX 75022

4 Beds 3 Baths 2,344 sqft Built 2002

$415,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $177.05
  • 4 Days on Market
  • MLS # : 14516242
  • Updated Date : 02/12/2021 at 11:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

**Multiple Offers: Final and Best Due by Sat.2-13 at 3:00pm. Sellers will review all offers at 5:00pm Sat. 2-13.** Located in sought after Wellington Estates, beautiful 1-Story home has an open concept layout with plenty of natural light and room for entertaining. This 4 Bedroom, 2.5 Bath home has been freshly painted inside and out. Carpet and Hardwoods replaced. Spacious foyer opens to formal living and dining room. There are custom art niches in hallway leading to the family room and spacious kitchen with an island and plenty of storage. Family room is large and has the beautiful fireplace. Large Master suite with his& her vanities, garden tub with separate shower.

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: Wellington Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Wellington Estates

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,441
Property Tax -$717
Property Insurance -$163
HOA -$68
Property Management Fees -$99
CASH FLOW
-$188

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.

$415,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,491

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5954$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 4200 Sharondale Drive Flower Mound, TX 1
    • 4 beds 2 baths ∙ 2,344 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,344 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 3529 Veronica Drive Flower Mound, TX 2
    • 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 2004
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 3509 Sutters Way Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2001
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
  • 4513 Sandra Lynn Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2005
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 4020 Sharondale Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2000
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jodie Boutilier
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516242
Last Updated: 02/12/2021
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