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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $131.21
- 4 Days on Market
- MLS # : 14487561
- Updated Date : 12/17/2020 at 16:29
CONSTRUCTION
- Beds : 4
- Floor Size : 2,515 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty-fm
Listing Agent's Description
Beautifully updated 4 bedroom, 2.5 bath home in highly desirable neighborhood. Open-concept kitchen, granite countertops, subway tile backsplash, under cabinet lighting, huge island and SS appliances with double oven. Additional living space or study-office or formal room on the 1st floor with french doors. Private master suite downstairs with a huge master bathroom with separate shower, separate vanities and walk-in closet. 3 spacious secondary bedrooms and a game room upstairs. Close proximity to parks, walking & biking trails. Back yard with an extended patio great place for family time and entertainment and enclosed with privacy fence. Home is in a great location near restaurants, shopping, and more!
SEE MORE
- # 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)
- . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
PRICE & RENT TRENDS
Neighborhood: The Summit
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Summit
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,130 |
| EXPENSES | Loan Payment | -$1,218 |
| Property Tax | -$569 | |
| Property Insurance | -$173 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$72
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$330,000
PROJECTED PRICE
$2,130
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 10.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$93,200
LOAN DETAILS
$1,218
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $82,500 |
| Loan Amount | $247,500 |
5.83
YEARS SAVED
$26,007
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 -
$0.85
LIST RENT PER SQFT
-
$2,138
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
773 N Valley Parkway Lewisville, TX 4
- 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1997
![property image]()
- Rent
- Rent Per SQFT
- $2,130
- $0.85
-
1100 Raleigh Drive Lewisville, TX 1
- 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1996
![property image]()
LEASED 11/13/20- Rent
- Rent Per SQFT
- $1,950
- $0.83
-
909 Fenimore Drive Lewisville, TX 2
- 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995
![property image]()
LEASED 03/04/20- Rent
- Rent Per SQFT
- $2,100
- $0.82
-
1516 Willowross Drive Lewisville, TX 3
- 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1996
![property image]()
LEASED 09/15/20- Rent
- Rent Per SQFT
- $2,100
- $0.85
-
1281 Michael Avenue Lewisville, TX 5
- 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1996
![property image]()
LEASED 06/06/20- Rent
- Rent Per SQFT
- $2,350
- $0.90
PROPERTY LISTING DETAILS
Keller Williams Realty-fm
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14487561
Last Updated: 12/17/2020
