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4224 Sandra Lynn Drive Flower Mound, TX 75022

4 Beds 3 Baths 3,024 sqft Built 2000

INVESTimate

$475,000

List Price

$2,780

$2,530 - $3,030

Rent Est.

$494,380  ( +4.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $157.08
  • 6 Days on Market
  • MLS # : 14412972
  • Updated Date : 08/24/2020 at 11:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,024 sqft
  • Baths : 3 full
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

Incredibly immaculate and updated home in the oh so elegant Master Planned Community Wellington Estates with an amazing pool and spa and plus a new 30 year shingle roof replace in 2019 and 2 new 16 SEER American Standard HVAC systems, and a new pool filter and pump!!! Priced to sell and won't last long.

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
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,753
Property Tax -$820
Property Insurance -$202
HOA -$68
Property Management Fees -$99
CASH FLOW
-$162

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.

$475,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.08%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$13,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7803$2,8504$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 4224 Sandra Lynn Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.92
    •  
  • 3613 Jennifer Drive Flower Mound, TX 1
    • 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
    •  
  • 4313 Brenda Drive Flower Mound, TX 3
    • 4 beds 4 baths ∙ 3,038 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,038 Sqft ∙ Built 2004
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 3601 Gaitland Circle Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1995
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.95
    •  
  • 3616 Karla Drive Flower Mound, TX 5
    • 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2002
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14412972
Last Updated: 08/24/2020
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