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7009 Cross Point Lane Little Elm, TX 76227

4 Beds 4 Baths 2,800 sqft Built 2020

$494,282

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $176.53
  • 2 Days on Market
  • MLS # : 14475618
  • Updated Date : 11/21/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14475618 - Built by Highland Homes - March completion! ~ Beautiful one story home with Excellent curb appeal includes steep pitched roof and covered front porch. Home features 4 bedrooms, study, entertainment room, open kitchen, large family room, and a 3 car tandem garage. Superior Energy efficiency with a projected HERS score of 57.

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: Union Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Union Park

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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$444,854$543,710$494,282

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,824
Property Tax -$1,057
Property Insurance -$189
HOA -$114
Property Management Fees -$99
CASH FLOW
-$1,142

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.

$494,282

PROJECTED PRICE

$2,140

PROJECTED RENT

0.43%

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) 3.00%
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$1.4M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,985

INVESTMENT

$132,985

Down Payment
$123,571
Rehab Estimate
$2,000
Closing Costs
$7,414

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,571
Loan Amount $370,712
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$92

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,128

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1404$2,1505$2,395
$2,395
RENT COMPS ANALYSIS
  • 7009 Cross Point Lane Little Elm, TX 3
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.76
    •  
  • 1053 Marietta Lane Savannah, TX 1
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2016
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 1204 Port Royal Court Savannah, TX 2
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2006
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 1009 Grey Fox Drive Savannah, TX 4
    • 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2006
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
  • 713 Field Crossing Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
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 #: 14475618
Last Updated: 11/21/2020
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