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6961 Broomsedge Drive Flower Mound, TX 76226

4 Beds 5 Baths 3,050 sqft Built 2021

$730,365

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $239.46
  • 5 Days on Market
  • MLS # : 14516769
  • Updated Date : 02/10/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,050 sqft
  • Baths : 4 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14516769 - Built by Highland Homes - July completion! ~ Beautiful 1 story open floor plan with high pitched elevation. Gourmet kitchen w huge island, spacious walk-in pantry, double ovens, & quartz countertops. Keeping room w fireplace. Extended master with spa-like bath, large walk-in closet, separate vanities, & luxury garden tub. Secluded study in the front of the home. This home features 3 bedrooms each w their own private bath, powder room, entertainment room, utility room w sink & cabinets. Sliding doors lead to the extended outdoor living area. Single garage door complete this lovely home. White brick & white mortar .

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: 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
 

$657,329$803,402$730,365

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,537
Property Tax -$1,261
Property Insurance -$203
HOA -$220
Property Management Fees -$99
CASH FLOW
-$1,090

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.

$730,365

PROJECTED PRICE

$3,230

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,547

INVESTMENT

$195,547

Down Payment
$182,591
Rehab Estimate
$2,000
Closing Costs
$10,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,537

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,591
Loan Amount $547,774
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,203

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1003$3,2004$3,2305$3,700
$3,700
RENT COMPS ANALYSIS
  • 6961 Broomsedge Drive Flower Mound, TX 4
    • 4 beds 5 baths ∙ 3,050 Sqft ∙ Built 2021 4 beds 5 baths ∙ 3,050 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $1.06
    •  
  • 6133 Whiskerbrush Road Flower Mound, TX 1
    • 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
  • 11413 Winecup Road Flower Mound, TX 2
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
  • 3705 Birch Wood Court Northlake, TX 3
    • 4 beds 4 baths ∙ 3,233 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,233 Sqft ∙ Built 2018
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.99
    •  
  • 6600 Elderberry Way Flower Mound, TX 5
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
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 #: 14516769
Last Updated: 02/10/2021
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