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848 Lake Meadow Lane Little Elm, TX 75068

4 Beds 4 Baths 3,043 sqft Built 2015

$399,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $131.12
  • 4 Days on Market
  • MLS # : 14526870
  • Updated Date : 03/04/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,043 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dfw Home

Listing Agent's Description

Beautiful house with open floor plan and lots of upgrades. kitchen with handcrafted custom cabinets, granite kitchen counter top, stainless steel appliances, tumble stone backsplash, oil bronze fixtures and lighting, designer tile throughout, gutter and sprinklers, energy star certified, tankless water heater, community club house with gym and swimming pool, close to lake, 4 bed plus study and game room. Study down and Game room up.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,386
Property Tax -$910
Property Insurance -$203
HOA -$31
Property Management Fees -$99
CASH FLOW
-$398

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.

$399,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.56%

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$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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,221

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1953$2,2004$2,2305$2,250
$2,250
RENT COMPS ANALYSIS
  • 848 Lake Meadow Lane Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.73
    •  
  • 1008 Water Garden Circle Little Elm, TX 1
    • 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 1408 Heather Lane Little Elm, TX 2
    • 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 817 Lake Worth Trail Little Elm, TX 3
    • 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2006
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 825 Lake Hollow Drive Little Elm, TX 5
    • 4 beds 4 baths ∙ 3,104 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,104 Sqft ∙ Built 2007
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
PROPERTY LISTING DETAILS
Renhong Lai
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526870
Last Updated: 03/04/2021
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