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4225 Carnelian Drive Little Elm, TX 75068

3 Beds 2 Baths 1,525 sqft Built 2020

$271,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $178.35
  • 6 Days on Market
  • MLS # : 14515807
  • Updated Date : 02/09/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

BRAND NEW Open Concept single story 3 Bed 2 Bath 2 Car Rear Entry Garage with covered back patio DR Horton Home to be completed in early May. This open concept floor plan features a beautiful finish out including white cabinets, laminate flooring in all main areas, granite counter tops in the kitchen and gas stainless steel appliances. Our boutique community is conveniently located right off of US-380 and amenities include a playground, picnic pergola with grills, and a pool with tot area. Only 2 homes remain in our Hillstone Pointe community, come out and take a tour of this one before it's gone! PLEASE SEE SHOWING INSTRUCTIONS... PLAN H122

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

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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

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

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$244,791$299,189$271,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$945
Property Tax -$570
Property Insurance -$115
HOA -$35
Property Management Fees -$99
CASH FLOW
-$154

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$271,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.59%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,077

INVESTMENT

$74,077

Down Payment
$67,998
Rehab Estimate
$2,000
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,998
Loan Amount $203,993
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,6504$1,6805$1,895
$1,895
RENT COMPS ANALYSIS
  • 4225 Carnelian Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.06
    •  
  • 1145 Copal Drive Cross Roads, TX 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2019
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 2320 Rosaline Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2019
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 1400 Acmite Avenue Cross Roads, TX 4
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2019
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.00
    •  
  • 1135 Copal Drive Cross Roads, TX 5
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2019
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.12
    •  
PROPERTY LISTING DETAILS
Derek Phelps
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515807
Last Updated: 02/09/2021
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