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4412 Broadway Avenue Flower Mound, TX 75028

4 Beds 4 Baths 2,819 sqft Built 2015

INVESTimate

$479,900

List Price

$3,010

$2,760 - $3,260

Rent Est.

$512,677  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $170.24
  • 6 Days on Market
  • MLS # : 14396556
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,819 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Fantastically located in the popular River Walk of Flower Mound. Well Appointed home features Hand-Scraped HW Floors, Vaulted Ceilings, Granite in Kitchen + all 4 baths, 1st floor master has access to the cozy side patio w mounted TV, Fire-pit & Hot Tub that stay! Living rm w Stone FP, Kitchen has grand island, large pantry, ss appl, 5 burner Gas Cook-top. Upstairs has lg Game rm + 3 generous sized Bedrooms, largest could be a Media rm & 2 full baths. Incredible storage throughout. Gated drive, very secure & private. Community Park & Pergola nearby. Amazing community offers lock & leave lifestyle, plus coming soon 5 specialty Restaurants, Entertainment & Shopping by the River Walk. Quick, a must see!

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: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Flower Mound Elementary School Primary Regular 499 35 9
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Flower Mound Elementary School

  • Education Level: Primary
  • # of students: 499
  • # of teachers: 35
9
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,709$3,311$3,010

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$1.4M$1.6M

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$1,771
Property Tax -$835
Property Insurance -$190
HOA -$92
Property Management Fees -$99
CASH FLOW
$24

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.

$479,900

PROJECTED PRICE

$3,010

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$29,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,671

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,6003$2,7954$3,0105$3,150
$3,150
RENT COMPS ANALYSIS
  • 4412 Broadway Avenue Flower Mound, TX 4
    • 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $1.07
    •  
  • 5125 Timber Park Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1998
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.90
    •  
  • 4625 Walnut Street Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2004
    LEASED 05/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 2305 Conroe Court Flower Mound, TX 3
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.92
    •  
  • 4421 Villa Drive Flower Mound, TX 5
    • 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2015
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lisa Birdsong
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14396556
Last Updated: 08/22/2020
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