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9120 Wellington Drive Little Elm, TX 75068

4 Beds 2 Baths 1,920 sqft Built 2008

$265,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $138.02
  • 3 Days on Market
  • MLS # : 14532139
  • Updated Date : 03/13/2021 at 11:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,920 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

MULTIPLE OFFERS- PLEASE SUBMIT ALL OFFERS BY 12:00 PM MONDAY 3.15.Lovely 4 bedroom home in Little Elm just minutes from Lake Lewisville. Flexible floor plan. 4th bedroom has double doors and is currently being used as an office. Front room can either be used as a dining room or a 2nd living room as it is now. Carpet and laminate installed in Jan 2021. Roof replaced in 2016, water heater in 2017, fresh front landscaping in Feb 2021, gutters with leaf guard. Split master suite with separate garden tub & shower, walk-in closet. Granite counters in kitchen. Generous covered patio to enjoy the views from your back yard. Refrigerator, washer and dryer to convey with property. Seller will need a 7 day leaseback.

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: Wellington Trace

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Wellington Trace

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$920
Property Tax -$555
Property Insurance -$138
HOA -$15
Property Management Fees -$99
CASH FLOW
-$8

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.

$265,000

PROJECTED PRICE

$1,720

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$10k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,7504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 9120 Wellington Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.90
    •  
  • 9124 Wellington Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 212 Linden Court Oak Point, TX 3
    • 4 beds 2 baths ∙ 1,939 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,939 Sqft ∙ Built 2010
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 3433 Fashion Street Little Elm, TX 4
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 492 Northbrook Avenue Oak Point, TX 5
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2006
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
PROPERTY LISTING DETAILS
Carol Chabinak
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532139
Last Updated: 03/13/2021
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