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7317 Windy Meadow Drive Little Elm, TX 76227

4 Beds 4 Baths 2,522 sqft Built 2021

$392,871

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.78
  • 3 Days on Market
  • MLS # : 14508259
  • Updated Date : 01/29/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,522 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

Last remaining home in Union Park! Two-story ceilings in the family room in highly sought after Union Park! A must see with beautiful upgrades, and walking distance to the pavilion. Too many upgrades to list! *Days on market is based on start of construction.*

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: 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
 

$353,584$432,158$392,871

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,365
Property Tax -$840
Property Insurance -$173
HOA -$108
Property Management Fees -$99
CASH FLOW
-$424

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.

$392,871

PROJECTED PRICE

$2,160

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) 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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,111

INVESTMENT

$106,111

Down Payment
$98,218
Rehab Estimate
$2,000
Closing Costs
$5,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,218
Loan Amount $294,653
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,1604$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 7317 Windy Meadow Drive Little Elm, TX 3
    • 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.86
    •  
  • 5500 Manitou Drive Prosper, TX 1
    • 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2009
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 1821 Forsythe Drive Savannah, TX 2
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2004
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 1804 Ridge Creek Lane Aubrey, TX 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 5720 Glenbrooke Drive Prosper, TX 5
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2013
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508259
Last Updated: 01/29/2021
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