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4313 Mistflower Way Northlake, TX 76226

4 Beds 3 Baths 2,399 sqft Built 2020

INVESTimate

$362,940

List Price

$2,920

$2,670 - $3,170

Rent Est.

$379,599  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $151.29
  • 2 Days on Market
  • MLS # : 14420545
  • Updated Date : 08/25/2020 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,399 sqft
  • Baths : 3 full
Listing Agent

American Legend Homes

Listing Agent's Description

Canyon Falls in Northlake offers families outstanding schools and a location that offers an active lifestyle in a natural setting with parks, trails, dedicated woodlands and a near by lake. This neighborhood features a clubhouse with a club room, fitness center surrounded by a large community pool, splash pad and playground. At the center of the community the expansive and experiential Graham Branch Creek Preserve presents 200 acres of natural open space. A dog park, trail heads and 10 miles of nature trails and more complete this fantastic community.

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: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Roanoke Elementary School Primary Regular 731 45 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$326,646$399,234$362,940

PURCHASE PRICE

$2,628$3,212$2,920

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,339
Property Tax -$722
Property Insurance -$166
HOA -$207
Property Management Fees -$99
CASH FLOW
$387

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.

$362,940

PROJECTED PRICE

$2,920

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,179

INVESTMENT

$98,179

Down Payment
$90,735
Rehab Estimate
$2,000
Closing Costs
$5,444

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,339

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,735
Loan Amount $272,205
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$65,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,849

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,7004$2,7005$2,920
$2,920
RENT COMPS ANALYSIS
  • 4313 Mistflower Way Northlake, TX 5
    • 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.22
    •  
  • 1421 Westborough Lane Northlake, TX 1
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2016
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.09
    •  
  • 1104 Parkdale Drive Northlake, TX 2
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 3809 Cozy Pine Drive Northlake, TX 3
    • 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 2017
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
  • 1509 Tumbleweed Trail Northlake, TX 4
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Eric Stanley
American Legend Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420545
Last Updated: 08/25/2020
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