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913 Shadow Ridge Drive Highland Village, TX 75077

5 Beds 4 Baths 3,400 sqft Built 1996

$550,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $161.76
  • 3 Days on Market
  • MLS # : 14475836
  • Updated Date : 11/27/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,400 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Impressive stunning home on cul-de-sac, backing up to greenbelt in much sought after Highland Shores. Walk into the fabulous grand entry & be wowed by soaring ceilings & other amazing features throughout, including wood floors, plantation shutters, spacious master suite w sitting area, formal dining & great study. Chef's dream kitchen brick grotto surrounding Viking oven, gas cooktop & high end Kohler fixtures. Kitchen opens to main living area. New carpet just installed Oct. 2019 downstairs. The amazing backyard features beautiful saltwater pool with heated spa, large wood deck and screened in back porch. Master down, 4 bed, 2 baths upstairs. This home is one of a kind. Don't miss your opportunity!

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: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k439k

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

Neighborhood: Highland Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262941

* 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
Heritage Elementary School Primary Regular 651 39 10
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Heritage Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 39
10
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,029
Property Tax -$1,007
Property Insurance -$224
HOA -$75
Property Management Fees -$99
CASH FLOW
-$393

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.

$550,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.55%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,001

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$2,9954$3,0405$3,100
$3,100
RENT COMPS ANALYSIS
  • 913 Shadow Ridge Drive Highland Village, TX 4
    • 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.89
    •  
  • 945 Crown Court Highland Village, TX 1
    • 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
  • 3025 Darlington Drive Highland Village, TX 2
    • 5 beds 3 baths ∙ 3,525 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,525 Sqft ∙ Built 2003
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 3410 Wimbledon Drive Highland Village, TX 3
    • 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
  • 3116 Creek Haven Drive Highland Village, TX 5
    • 4 beds 4 baths ∙ 3,314 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,314 Sqft ∙ Built 1999
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ryan Graves
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475836
Last Updated: 11/27/2020
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