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5008 Cedar Street Flower Mound, TX 75028

5 Beds 4 Baths 3,239 sqft Built 2020

$625,000

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $192.96
  • 2 Days on Market
  • MLS # : 14541947
  • Updated Date : 03/27/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,239 sqft
  • Baths : 3 full , 1 half
Listing Agent

Let's Fly Realty Homes

Listing Agent's Description

Beautiful contemporary home built in 2020. It has a gorgeous kitchen with Quartz countertops, built in oven and microwave. It contains 5 bedrooms, one office, game room and a large media room. The garage is set up for charging electric vehicles. Large master bedroom with built in closet, master bath with modern designed shower and bath tub. Upstairs area has 2 bedrooms, one full bath, game room and a large media room with plenty of storage space. There is also a large cover patio in the back with a built in grill and fridge. This is a beautiful house that will not last very long on the market. Come and see it for yourself !!! Agent is the Owner and Builder

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: Pecan Acres

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Pecan Acres

NeighborhoodNIR 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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,171
Property Tax -$1,079
Property Insurance -$214
Property Management Fees -$99
CASH FLOW
-$473

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.

$625,000

PROJECTED PRICE

$3,090

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,625

INVESTMENT

$167,625

Down Payment
$156,250
Rehab Estimate
$2,000
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,069

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,945
1$2,9452$3,0903$3,1004$3,2005$3,299
$3,299
RENT COMPS ANALYSIS
  • 5008 Cedar Street Flower Mound, TX 2
    • 5 beds 4 baths ∙ 3,239 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,239 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $0.95
    •  
  • 2305 Conroe Court Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $0.97
    •  
  • 706 Live Oak Highland Village, TX 3
    • 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2005
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.90
    •  
  • 3508 Beringer Court Flower Mound, TX 4
    • 5 beds 4 baths ∙ 3,356 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,356 Sqft ∙ Built 2002
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.95
    •  
  • 4800 Bayberry Street Flower Mound, TX 5
    • 5 beds 4 baths ∙ 3,391 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,391 Sqft ∙ Built 2016
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $0.97
    •  
PROPERTY LISTING DETAILS
Manuel Caballero
Let's Fly Realty Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541947
Last Updated: 03/27/2021
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