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812 Lake Grove Drive Little Elm, TX 75068

5 Beds 4 Baths 2,701 sqft Built 2006

$349,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $129.54
  • 3 Days on Market
  • MLS # : 14466889
  • Updated Date : 11/06/2020 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,701 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

This home has an amazing floorpan! Master downstairs & the remaining bedrooms, game room & media room all upstairs. The home office is situated in the front of the home & provides great space for remote learning, home schooling or working. The kitchen is large & open & provides space to eat at the island, bar counter or at the eat-in kitchen. The main floor also has a formal dining space, warm inviting family room, large utility room & powder room. Upstairs is the perfect location for a pool table or can become a secondary home office or home school. True media room with no windows is the perfect get-a-way for movie night or football! Don't miss this wonderfully designed home that is ready for it's next owner!

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: Paloma Creek Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek Lakeview

NeighborhoodNIR 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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,291
Property Tax -$798
Property Insurance -$183
HOA -$31
Property Management Fees -$99
CASH FLOW
-$222

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.

$349,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1804$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 812 Lake Grove Drive Little Elm, TX 3
    • 5 beds 4 baths ∙ 2,701 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,701 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.81
    •  
  • 813 Lake Forest Trail Little Elm, TX 1
    • 5 beds 4 baths ∙ 2,701 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,701 Sqft ∙ Built 2006
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 1516 Whistler Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 1408 Heather Lane Little Elm, TX 4
    • 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 1205 Meadowlark Drive Little Elm, TX 5
    • 5 beds 3 baths ∙ 2,853 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,853 Sqft ∙ Built 2010
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.79
    •  
PROPERTY LISTING DETAILS
Stacy Massar
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466889
Last Updated: 11/06/2020
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