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782 Red Wing Drive Lewisville, TX 75067

4 Beds 3 Baths 2,428 sqft Built 1980

$300,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $123.56
  • 2 Days on Market
  • MLS # : 14481595
  • Updated Date : 12/12/2020 at 12:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brg & Associates

Listing Agent's Description

WHAT A BETTER WAY TO CELEBRATE 2021 THAN TO BE IN THIS GREAT UPDATED HOME W-4 BEDROOMS 2.5 BATHS, & POOL COMPLETE W COVERED PATIO, LARGE SITTING AREA UNDER MAJESTIC TREES. THE VIEW FROM THE KITCHEN TO OUTDOOR AREA IS SUPERB AS BRAND NEW DOOR HAS BEEN INSTALLED FOR NATURAL LIGHT. THIS HARD TO FIND CORNER TREED LOT IN A MATURED NEIGHBORHOOD IS UPDATED W-WHITE KITCHEN CABINETS, NEW CARPET IN BEDROOMS, UPDATED BATHROOMS. THE SPACIOUS LIV RM BOASTS VAULTED CEIL.,ENGINEERED HARDWOODS, & WOOD BURNING FP. FRONT LAWN & LANDSCAPING WAS RECENTLY INSTALLED. ADDT. PICS COMING SOON.

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: Timberbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k290k

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

Neighborhood: Timberbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10081939

* 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
Creekside Elementary School Primary Regular 495 35 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,107
Property Tax -$517
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
$149

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.

$300,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$32,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,228

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,0953$2,2504$2,3505$2,399
$2,399
RENT COMPS ANALYSIS
  • 782 Red Wing Drive Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.84
    •  
  • 400 Valley View Drive Lewisville, TX 2
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1999
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.92
    •  
  • 401 Preston Oaks Drive Lewisville, TX 3
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 1999
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 2051 Biscayne Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1990
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 417 Elam Drive Lewisville, TX 5
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1997
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lydia Cruz
Brg & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481595
Last Updated: 12/12/2020
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