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613 Sundrop Drive Little Elm, TX 75068

3 Beds 2 Baths 1,878 sqft Built 2014

$335,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $178.38
  • 3 Days on Market
  • MLS # : 14520005
  • Updated Date : 02/27/2021 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,878 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

*MULTIPLE OFFERS RECEIVED. Sellers are calling for highest and best by 7pm Sunday 2 28.* ADORABLE, 3 bedroom 2 bath home in Frisco Hills Subdivision! Open floor plan with warm, rich wood floors throughout. Separate office complete with glass french doors. Gourmet kitchen boasting of beautiful granite countertops, designer backsplash, gas cooktop, stainless steel appliances and an oversized island! Wonderful for entertaining! Cozy up next to the gorgeous stone fireplace. Gas logs included! Owners retreat located in back of home. Covered patio in backyard! Walking distance to neighborhood elementary, community pool, jogging trails and dog park! Buyer to verify all information and room dimensions.

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Miller Elementary School Primary Unknown NA
Trent Middle School Middle Unknown NA
Memorial High School High Unknown NA

Miller Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Trent Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Memorial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,164
Property Tax -$702
Property Insurance -$136
HOA -$38
Property Management Fees -$99
CASH FLOW
-$288

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.

$335,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 613 Sundrop Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 609 Sundrop Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2014
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1116 Mist Flower Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2018
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 613 Mist Flower Drive Little Elm, TX 4
    • 3 beds 4 baths ∙ 2,049 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,049 Sqft ∙ Built 2013
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 521 Cypress Hill Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2013
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Chantel Henderson
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520005
Last Updated: 02/27/2021
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