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5300 Summerfields Drive Flower Mound, TX 75028

5 Beds 3 Baths 3,018 sqft Built 1989

$425,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $140.82
  • 3 Days on Market
  • MLS # : 14466917
  • Updated Date : 11/07/2020 at 14:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,018 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors - The Harrell Group

Listing Agent's Description

Fantastic Updated Large Corner Lot With Pool in Countryside Estates. Home has an open kitchen and great flow. Recently updated light fixtures and ceiling fans. Added blown in insulation, radiant barrier, attic tent and a electrical panel upgrade. Home has been very well maintained. 5 bedrooms and 2 and a half baths with a game room up. A large bedroom upstairs that would work great as a media room. Master bedroom on the first floor. Home is close to shopping, restaurants and great Flower Mound schools.

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: Countryside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Countryside 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,568
Property Tax -$734
Property Insurance -$202
Property Management Fees -$99
CASH FLOW
-$22

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.

$425,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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-$5.0k$0.0$5.0k$10k$15k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$23,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,701

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5804$2,8505$2,945
$2,945
RENT COMPS ANALYSIS
  • 5300 Summerfields Drive Flower Mound, TX 3
    • 5 beds 3 baths ∙ 3,018 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,018 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.85
    •  
  • 5321 Weathervane Lane Flower Mound, TX 1
    • 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 1989
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.87
    •  
  • 5101 Timberland Parkway Flower Mound, TX 2
    • 5 beds 4 baths ∙ 3,065 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,065 Sqft ∙ Built 1998
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 1800 Morning Mist Trail Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.92
    •  
  • 2305 Conroe Court Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2001
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $0.97
    •  
PROPERTY LISTING DETAILS
Janae Alvarez
Weichert Realtors - The Harrell Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466917
Last Updated: 11/07/2020
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