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900 Lake Cypress Lane Little Elm, TX 75068

3 Beds 2 Baths 1,684 sqft Built 2017

$269,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $160.27
  • 3 Days on Market
  • MLS # : 14492842
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,684 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Immaculate One Owner Home in Paloma Creek Lakeview. Open & bright floor plan boasts designer touches throughout. Elegant gourmet kitchen is complete with a breakfast bar, abundant cabinet storage, gas range, granite & tile backsplash. Family room features cast stone gas fireplace. Meticulous master suite features dual sinks, garden tub and a separate shower. Spacious private backyard features covered patio & lush landscaping. Community features include 4 Clubhouses, resident center with gym, pool & splash park, walking & biking trails, playground & a community garden, all conveniently located near HWY 380 & DNT. Hurry! This one will sell quick!

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

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
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$937
Property Tax -$615
Property Insurance -$125
HOA -$28
Property Management Fees -$99
CASH FLOW
-$54

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.

$269,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,8504$1,8805$1,975
$1,975
RENT COMPS ANALYSIS
  • 900 Lake Cypress Lane Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1020 Lake Hollow Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2007
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.04
    •  
  • 924 Lake Cypress Lane Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 2108 Lake Pine Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.01
    •  
  • 724 Lake Sierra Way Little Elm, TX 5
    • 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2017
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kristi Reinertsen
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492842
Last Updated: 01/08/2021
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