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7037 Cross Point Lane Little Elm, TX 76227

4 Beds 3 Baths 2,461 sqft Built 2020

INVESTimate

$397,050

List Price

$2,130

$1,917 - $2,343

Rent Est.

$107,218

Investment Est.

$427,266 ( +7.61%) 1 YR EST. FORECAST

AVAILABLE

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AVAILABLE

1 YEAR
Gross Yield	6.44%
NOI	$8,446

15 YEAR
Yield	-1.30%
Appreciation	4.18%
TOTAL RETURN	17.37%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

August 25, 2020 RECENTLY ADDED

FACTS

Built In 2020
Price/Sqft : $161.34
2 Days on Market
MLS # : 14420705
Updated Date : 08/25/2020 at 14:04

CONSTRUCTION

Beds : 4
Floor Size : 2,461 sqft
Baths : 2 full , 1 half

Listing Agent

American Legend Homes

Listing Agent's Description

Beautiful 1 story home with 4 bedrooms, 2 full baths, 1 powder bath, study, fireplace, and extended outdoor living area. Available in October.

MARKET HIGHLIGHTS

Dallas Market Report

. 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)

Neighborhood: Union Park

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

Neighborhood: Union Park

* 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

GreatSchools Rating

Navo Middle School

Education Level: Middle
# of students: 1,077
# of teachers: 65

GreatSchools Rating

Denton High School

Education Level: High
# of students: 2,166
# of teachers: 140

GreatSchools Rating

FINANCIALS

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$357,345$436,75500$397,050

PURCHASE PRICE

$1,917$2,34300$2,130

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,130
EXPENSES	Loan Payment	-$1,465
	Property Tax	-$849
	Property Insurance	-$169
	HOA	-$112
	Property Management Fees	-$99



CASH FLOW -$564

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.

$397,050

PROJECTED PRICE

$2,130

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.94%
Appreciation Year (1-5)	7.61%
Maintenance Year (1-5)	3.00%
Vacancy	6.93%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$107,218

Down Payment	$99,263
Rehab Estimate	$2,000
Closing Costs	$5,956

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,465

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$99,263
Loan Amount	$297,788

See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$27

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,130
LIST RENT
$0.87
LIST RENT PER SQFT

$2,086
COMP ESTIMATED VALUE
$0.85
COMP AVG. RENT PER SQFT

Comps Range

$1,800

1$1,8002$1,9953$1,9954$2,1305$2,300

$2,300

RENT COMPS ANALYSIS

2,461
PROPERTY SQFT
$0.85
AVG RENT PER SQFT
$2,086
ESTIMATED VALUE
$2,130
LIST RENT

7037 Cross Point Lane Little Elm, TX 5

4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2020
Price

Price Per SQFT

$397,050

$161.34
925 King George Lane Savannah, TX 1

4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2013
SOLD 05/26/20
Price

Price Per SQFT

$255,000

$104.29
7209 Windy Meadow Drive Little Elm, TX 2

4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2020
SOLD 08/05/20
Price

Price Per SQFT

$287,990

$120.60
7013 Dandelion Drive Aubrey, TX 3

4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2019
SOLD 04/23/20
Price

Price Per SQFT

$288,990

$121.02
7500 Emerald Place Court Little Elm, TX 4

4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2019
SOLD 07/07/20
Price

Price Per SQFT

$339,000

$146.50

7037 Cross Point Lane Little Elm, TX 4

4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$2,130

$0.87
1025 Hayden Lane Savannah, TX 1

3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008
LEASED 08/04/20
Rent

Rent Per SQFT

$1,800

$0.77
1513 Habersham Street Aubrey, TX 2

3 beds 2 baths ∙ 2,261 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 2017
LEASED 04/18/20
Rent

Rent Per SQFT

$1,995

$0.88
920 Caudle Lane Savannah, TX 3

4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013
LEASED 03/27/20
Rent

Rent Per SQFT

$1,995

$0.79
709 Patio Street Little Elm, TX 5

3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2016
LEASED 06/03/20
Rent

Rent Per SQFT

$2,300

$0.95

PROPERTY LISTING DETAILS

Eric Stanley
American Legend Homes

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420705
Last Updated: 08/25/2020

7037 Cross Point Lane Little Elm, TX 76227

INVESTimate

$397,050

$2,130

$107,218

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Savannah Elementary School

Navo Middle School

Denton High School

FINANCIALS

$357,345$436,75500$397,050

$1,917$2,34300$2,130

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$397,050

$2,130

0.54%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,465

0.08

$27

$397,050

$161.34

$302,955

$123.1

COMPS RANGE

PRICE COMPS ANALYSIS

$2,130

$0.87

$2,086

$0.85

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS