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5047 Creekwood Drive Flower Mound, TX 75028

3 Beds 2 Baths 1,758 sqft Built 1987

$320,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $182.03
  • 4 Days on Market
  • MLS # : 14511420
  • Updated Date : 02/12/2021 at 15:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

MULTIPLE OFFERS!! Highest and Best by 9PM Saturday February 13th!!! Charming home on hard to find half acre lot in Flower Mound! Ideally positioned to enjoy the proximity to shops, theaters, restaurants and a selection of premier schools! Cuddle up in front of the gas-start fireplace on cold winter nights and enjoy the backyard retreat on those warm beautiful evenings! The backyard boasts a covered patio, deck, storage shed, large shade trees & tons of area to play! Embrace your inner decorator self and make this house your new home! The floorplan makes entertaining family and friends fun and easy. The easy commute means less time on the road and more time at home! All that's missing is you!

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: Timberview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Timberview Estates

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
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,111
Property Tax -$553
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$38

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.

$320,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.7%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,925

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9303$1,9504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 5047 Creekwood Drive Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.10
    •  
  • 1713 Ingleside Drive Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 1817 Newton Drive Flower Mound, TX 3
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1994
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 1732 Meyerwood Lane Flower Mound, TX 4
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1994
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 5300 Valleydale Drive Flower Mound, TX 5
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1989
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
PROPERTY LISTING DETAILS
Beth Brake
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511420
Last Updated: 02/12/2021
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