Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

904 Lake Cypress Lane Little Elm, TX 75068

3 Beds 3 Baths 2,178 sqft Built 2017

$300,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $137.74
  • 7 Days on Market
  • MLS # : 14461169
  • Updated Date : 10/28/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 3 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

Barely lived in 1.5 story home featuring 3 bedrooms down plus a game room, walk in closet, and full bath upstairs that could easily be a 4th bedroom. Nice sized backyard with outdoor living space. Open concept floor plan with separate bedrooms. Kitchen is open to the large family room and features a huge pantry. Gas fireplace operates with the flick of a switch. Massive laundry room with extra storage. Master bedroom easily accommodates a king sized bed with room to spare. Plenty of room to hang everything and more in your nicely sized walk in master closet. Paloma Creek South features an on site elementary school, 4 pools, a work out facility, walking trails, lake access and lake views, and so much more.

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,107
Property Tax -$684
Property Insurance -$153
HOA -$31
Property Management Fees -$99
CASH FLOW
-$14

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.

$300,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.69%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$1,9503$1,9954$1,9955$2,060
$2,060
RENT COMPS ANALYSIS
  • 904 Lake Cypress Lane Little Elm, TX 5
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.95
    •  
  • 801 Lake Cypress Little Elm, TX 1
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2017
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.88
    •  
  • 1212 Lake Worth Trail Little Elm, TX 2
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2016
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 804 Lake Woodland Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 921 Lake Cypress Lane Little Elm, TX 4
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2017
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mandi Simpson
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461169
Last Updated: 10/28/2020
BESbswy