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4820 Bonfire Way Little Elm, TX 76227

4 Beds 4 Baths 2,423 sqft Built 2016

$400,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $165.08
  • 3 Days on Market
  • MLS # : 14541071
  • Updated Date : 03/26/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,423 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Beautiful single story custom in Union Park. Featuring wood floors, granite counter tops, stainless steel appliances & custom finish out! Expanded arched entry leads to spacious living room accented by stone fireplace. Kitchen boasts 5 burner gas cooktop & huge work island with bar top seating. Open concept with lots of windows & split master bedroom. Guest bedrooms with ensuite baths. Neighborhood amenities include two pools, splash pad, outdoor fitness park, indoor fitness center, multiple play parks, dog park, catch & release pond, walking trails & a variety of family events throughout the year. Pool sized backyard with expanded & covered flagstone patio. HOA maintains front yard and smart home security.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Union Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Union Park

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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,389
Property Tax -$838
Property Insurance -$167
HOA -$121
Property Management Fees -$99
CASH FLOW
-$345

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.

$400,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.57%

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) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0504$2,2705$2,300
$2,300
RENT COMPS ANALYSIS
  • 4820 Bonfire Way Little Elm, TX 4
    • 4 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.94
    •  
  • 1513 Habersham Street Aubrey, TX 1
    • 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 2017
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 920 Caudle Lane Savannah, TX 2
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 709 Whitemarsh Drive Aubrey, TX 3
    • 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 2015
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 709 Patio Street Little Elm, TX 5
    • 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2016
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Shaun Walding
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541071
Last Updated: 03/26/2021
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