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6913 Basket Flower Flower Mound, TX 76226

4 Beds 3 Baths 2,840 sqft Built 2020

INVESTimate

$584,541

List Price

$2,960

$2,710 - $3,210

Rent Est.

$611,371  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $205.82
  • 8 Days on Market
  • MLS # : 14416715
  • Updated Date : 08/22/2020 at 10:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,840 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14416715 - Built by Highland Homes - January completion! ~ Beautiful one story open floor plan. Gourmet kitchen with double oven, walk in pantry, large island with furniture style legs. Kitchen overlooks spacious breakfast nook area surrounded by windows & family room with gorgeous stone fireplace to the ceiling. Open formal dining area. En-suite with private bath, study, 2 bedrooms with shared bath. Extended master suite with spa like bath, sunken garden tub, spacious walk in closet, and large shower. Extended outdoor living area perfect for entertaining. Lots of tall windows and high ceilings in the dining room, nook, and family room make this home light and bright...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$526,087$642,995$584,541

PURCHASE PRICE

$2,664$3,256$2,960

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,157
Property Tax -$1,002
Property Insurance -$191
HOA -$145
Property Management Fees -$99
CASH FLOW
-$634

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$584,541

PROJECTED PRICE

$2,960

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,903

INVESTMENT

$156,903

Down Payment
$146,135
Rehab Estimate
$2,000
Closing Costs
$8,768

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,157

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,135
Loan Amount $438,406
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,932

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,8004$2,9605$3,100
$3,100
RENT COMPS ANALYSIS
  • 6913 Basket Flower Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.04
    •  
  • 6107 Prairie Brush Trail Northlake, TX 1
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 11417 Winecup Road Flower Mound, TX 2
    • 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 6133 Whiskerbrush Road Flower Mound, TX 3
    • 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
  • 11413 Winecup Road Flower Mound, TX 5
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416715
Last Updated: 08/22/2020
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