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5313 Summerfields Drive Flower Mound, TX 75028

4 Beds 2 Baths 2,415 sqft Built 1989

INVESTimate

$389,900

List Price

$2,330

$2,097 - $2,563

Rent Est.

$416,530  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $161.45
  • 6 Days on Market
  • MLS # : 14417827
  • Updated Date : 08/24/2020 at 15:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,415 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This beautifully updated Flower Mound home offers the perfect space for living & entertaining. The split 4 bed, 2 bath 1 story plan has 3 living areas + pool & spa. Allergy friendly with NO carpet. Rich, dark manufactured wood floors thru most of the home. The master bath offers Travertine tile, over sized shower, vessel sinks, garden tub, and WIC complete with built ins. The over sized living room boasts a see thru fireplace to the formal dining or den. The Family room with brick fireplace is connected to the updated Kitchen which offers granite, stainless steel appliances, and large basin granite sink. This home is within walking distance to both Marcus HS and the new Riverwalk.

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
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,097$2,563$2,330

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,439
Property Tax -$673
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$48

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.

$389,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.60%

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) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$19,055

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,2003$2,2254$2,3305$2,350
$2,350
RENT COMPS ANALYSIS
  • 5313 Summerfields Drive Flower Mound, TX 4
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.96
    •  
  • 4920 Wolf Creek Trail Flower Mound, TX 1
    • 4 beds 2 baths ∙ 2,284 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,284 Sqft ∙ Built 1987
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.89
    •  
  • 5109 Timber Park Drive Flower Mound, TX 2
    • 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1997
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 5125 Timber Park Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1998
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.90
    •  
  • 2509 Cross Haven Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Brad Mckissack
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417827
Last Updated: 08/24/2020
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