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4954 Stornoway Drive Flower Mound, TX 75028

4 Beds 3 Baths 1,884 sqft Built 2020

INVESTimate

$519,047

List Price

$2,030

$1,827 - $2,233

Rent Est.

$554,498  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $275.50
  • 2 Days on Market
  • MLS # : 14420820
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,884 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

Stunning four bedroom and three bathroom home with a separate study. This floorplan has made great use of space and the home feels large. You will love your owner's retreat with a super shower and long vanity. The open area that includes the kitchen, dining and family room is perfect for entertaining or keeping an eye on the kids. Highland Court is close to shopping, restaurants and has one of the best tax rates around.

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
Clayton Downing Middle School Middle Regular 606 50 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

Clayton Downing Middle School

  • Education Level: Middle
  • # of students: 606
  • # of teachers: 50
9
GreatSchools Rating

Marcus High School

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

$467,142$570,952$519,047

PURCHASE PRICE

$1,827$2,233$2,030

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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,915
Property Tax -$896
Property Insurance -$136
HOA -$63
Property Management Fees -$99
CASH FLOW
-$1,079

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.

$519,047

PROJECTED PRICE

$2,030

PROJECTED RENT

0.39%

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) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,547

INVESTMENT

$139,547

Down Payment
$129,762
Rehab Estimate
$2,000
Closing Costs
$7,786

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,762
Loan Amount $389,285
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$43

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,082

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,1503$2,350
$2,350
RENT COMPS ANALYSIS
  • 4954 Stornoway Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.08
    •  
  • 4613 Pinon Street Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2002
    property image
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 3604 Westminister Trail Flower Mound, TX 3
    • 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2001
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420820
Last Updated: 08/25/2020
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