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816 Sierra Lane Flower Mound, TX 75028

4 Beds 3 Baths 2,199 sqft Built 1995

$375,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $170.53
  • 5 Days on Market
  • MLS # : 14499473
  • Updated Date : 01/15/2021 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,199 sqft
  • Baths : 2 full , 1 half
Listing Agent

2415 Realty

Listing Agent's Description

Multiple Offers! Best & Final due Sunday, Jan 17th by 5pm. Amazing 4 bedroom, 2.5 bath home with a pool and a park view in highly sought after Hilltop Estates. This home is move in ready. Walking distance to Garden Ridge Elementary, Thrush Park greenway belt, and two playgrounds. Honeycomb blinds have been installed throughout the home. Kitchen has updated painted cabinets, stainless steel appliances and view of the backyard and pool. Large split backyard has iron fence, lots of grass, a large pool with spa, a deck & pergola. Property has 8 ft privacy fence and two storage sheds. This quiet and secluded neighborhood is close to major shopping and highway access. Come by the Open House on Saturday from 12-2.

SEE MORE

MARKET HIGHLIGHTS

  • # 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: Hilltop Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Hilltop Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Garden Ridge Elementary School Primary Regular 465 30 10
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Garden Ridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 30
10
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,303
Property Tax -$648
Property Insurance -$154
HOA -$19
Property Management Fees -$99
CASH FLOW
$138

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.

$375,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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$0.0$5.0k$10k$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$29,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,150

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1504$2,1755$2,360
$2,360
RENT COMPS ANALYSIS
  • 816 Sierra Lane Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.07
    •  
  • 808 Sierra Lane Flower Mound, TX 1
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 2509 Vail Lane Flower Mound, TX 2
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.93
    •  
  • 1932 Sunrise Trail Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 612 Alpine Cove Flower Mound, TX 4
    • 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1997
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.98
    •  
PROPERTY LISTING DETAILS
Derek Hicks
2415 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499473
Last Updated: 01/15/2021
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