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429 Longshore Drive Little Elm, TX 75068

3 Beds 2 Baths 1,502 sqft Built 2003

$258,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $171.77
  • 23 Days on Market
  • MLS # : 14459724
  • Updated Date : 11/13/2020 at 11:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Take this opportunity to own this charming 3 bedroom, 2 bath home just down the street from Lakefront at Little Elm (Lake Lewisville)! With a brand new roof, gutters and fencing (Nov. 2019) and brand new carpet throughout (Oct. 2020), this home is ready to be yours! No HOA

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: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $121k308k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10611912

* 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
Cesar Chavez Elementary School Primary Regular 753 42 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Cesar Chavez Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$952
Property Tax -$545
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$190

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$258,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,5604$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 429 Longshore Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.01
    •  
  • 1003 Port Aransas Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2001
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 1019 Port Aransas Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.00
    •  
  • 1015 Port Boliver Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 616 Alcove Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2002
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Jillian Church
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459724
Last Updated: 11/13/2020
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