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853 Field Crossing Little Elm, TX 76227

4 Beds 3 Baths 3,058 sqft Built 2015

$419,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $137.02
  • 2 Days on Market
  • MLS # : 14508329
  • Updated Date : 01/30/2021 at 22:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,058 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

HOME SWEET HOME! Gorgeous 4 bedrooms, 3 full baths, gameroom, media, office and formal dining. Updated with shiplap, farmhouse sink, antique faucet, quartz counters, new backsplash, nailed down scraped hardwood floors, updated lights, entry way beams, board and batten accent wall, new carpet, fresh paint, updated baths with frameless shower, deco tile and hardware, his and her closets. Amazing neighborhod with two pools, a splash pad, an outdoor fitness park, an indoor fitness center, muliple play parks, a dog park, catch and release pond, walking trails and lots of fun family events all year. Plenty of room in backyard for a pool. HOA maintains front yard and smart home security. Move in Ready while it lasts!

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: Union Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Union Park

ZipNIR 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,455
Property Tax -$896
Property Insurance -$204
HOA -$100
Property Management Fees -$99
CASH FLOW
-$244

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.

$419,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,666

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5103$2,5504$2,5755$2,595
$2,595
RENT COMPS ANALYSIS
  • 853 Field Crossing Little Elm, TX 2
    • 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.82
    •  
  • 705 Lighthouse Lane Savannah, TX 1
    • 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
  • 1044 Marietta Lane Aubrey, TX 3
    • 5 beds 3 baths ∙ 3,062 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,062 Sqft ∙ Built 2015
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.83
    •  
  • 1001 Marietta Lane Aubrey, TX 4
    • 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2014
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.84
    •  
  • 713 Field Crossing Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
PROPERTY LISTING DETAILS
Hannah Wallace
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508329
Last Updated: 01/30/2021
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