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908 Silvermoon Drive Little Elm, TX 75068

4 Beds 3 Baths 2,770 sqft Built 2013

$299,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $108.27
  • 3 Days on Market
  • MLS # : 14513613
  • Updated Date : 02/06/2021 at 10:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

**MULTIPLE OFFERS-DEADLINE SUNDAY 12 NOON Meticulously maintained Gently lived in home ready for new owners! Second floor has only been used for occasional company. Formal Dining works nicely as a flex space to meet your family's needs. Dedicated study off living with french doors for privacy. Spacious master with cozy sitting area, His and Hers closets and sinks. Linen closet, garden tub and separate shower. Second floor has 3 bedrooms, full bath, large 7x7 storage closet. Living room on second floors works as an additional flex space, homework, toy or small game room.

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 South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,042
Property Tax -$659
Property Insurance -$187
HOA -$31
Property Management Fees -$99
CASH FLOW
$13

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.

$299,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0304$2,0505$2,295
$2,295
RENT COMPS ANALYSIS
  • 908 Silvermoon Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.73
    •  
  • 1405 Rivers Creek Lane Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2015
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 1204 Rivers Creek Lane Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2016
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 912 Hawk Valley Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2012
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.72
    •  
  • 1313 Rivers Creek Lane Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2014
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.83
    •  
PROPERTY LISTING DETAILS
Robin Grisham
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513613
Last Updated: 02/06/2021
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