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5905 Northcrest Drive Flower Mound, TX 75028

4 Beds 3 Baths 2,935 sqft Built 1998

$475,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $161.84
  • 5 Days on Market
  • MLS # : 14494624
  • Updated Date : 01/08/2021 at 19:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,935 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

BEAUTIFULLY UPDATED 2 STORY WITH A TROPICAL BACKYARD OASIS! Discover a home styled to perfection featuring extensive handscraped wood floors, recent upstairs carpet, updated bathrooms, custom built-ins, an upgraded fireplace & tons of windows that flood the home with natural light. Prepare meals in the remodeled kitchen boasting stainless steel appliances & upgraded cabinets or relax in the huge owner's suite offering a sitting area & frameless shower. Entertain in the backyard paradise showcasing a Pebble Tec pool & spa, built-in patio seating, natural gas grill & a large covered patio with ceiling fans. Other features include radiant barrier & a workbench in the garage, plus recent HVAC units & water heater.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Stone Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k410k

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

Neighborhood: Stone Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262634

* 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
Prairie Trail Elementary School Primary Regular 609 41 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Prairie Trail Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,650
Property Tax -$820
Property Insurance -$197
HOA -$53
Property Management Fees -$99
CASH FLOW
-$248

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.

$475,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,561

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5704$2,6955$2,850
$2,850
RENT COMPS ANALYSIS
  • 5905 Northcrest Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.88
    •  
  • 1208 Stonehedge Place Flower Mound, TX 1
    • 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2000
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 1416 Old Oak Trail Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 2412 Conroe Court Flower Mound, TX 4
    • 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2003
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.94
    •  
  • 1800 Morning Mist Trail Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Russell Rhodes
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494624
Last Updated: 01/08/2021
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