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732 Field Crossing Little Elm, TX 76227

4 Beds 4 Baths 2,982 sqft Built 2016

$395,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $132.46
  • 1 Days on Market
  • MLS # : 14454580
  • Updated Date : 11/03/2020 at 01:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,982 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Gorgeous American Legend Home in the Union Park community. Gorgeous entry with high ceilings and hardwood floors. A quiet study or home office with a view of the neighborhood perfect for home schooling. A huge farmhouse kitchen with granite, decorator backsplash, 5 burner gas cooktop and huge island with seating for breakfast is open to the large family room with stone fireplace. Retire for the evening in your downstairs master suite complete with soaking tub, extended shower, and large closets. Upstairs is a Game Room set apart from 3 bedrooms (2 are connected via jack n jill bath, while the other has an ensuite bath), with plenty of space for everyone. The large backyard has a cozy covered porch.

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,457
Property Tax -$844
Property Insurance -$200
HOA -$107
Property Management Fees -$99
CASH FLOW
-$407

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$395,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.58%

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) 8.00%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,311

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,3004$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 732 Field Crossing Little Elm, TX 3
    • 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 724 Marietta Lane Savannah, TX 1
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2014
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 705 Lighthouse Lane Savannah, TX 2
    • 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
  • 713 Field Crossing Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
  • 716 Nathanael Greene Court Aubrey, TX 5
    • 4 beds 4 baths ∙ 3,095 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,095 Sqft ∙ Built 2017
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tommy Pistana
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14454580
Last Updated: 11/03/2020
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