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918 Witherby Lane Lewisville, TX 75067

3 Beds 2 Baths 2,095 sqft Built 2012

$340,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $162.29
  • 5 Days on Market
  • MLS # : 14518958
  • Updated Date : 02/20/2021 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,095 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous home on corner lot features open floor plan, extended entry, office to the left, formal dining room, living room with fireplace, two additional rooms in private hallway. Kitchen features island, granite counter tops, stainless steel appliances, double oven, walk-in pantry, breakfast area with wall of windows. Private master suite with large seating area, master bath features dual vanities, garden jetted tub and separate glass enclosed shower. Extended patio and large backyard to build your dream pool or you can use the community pool. Close to DFW Airport, dining and shopping.

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: The Villas at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $122k323k

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

Neighborhood: The Villas at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262184

* 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
Creekside Elementary School Primary Regular 495 35 5
Delay Middle School Middle Regular 984 75 3
Lewisville High School Harmon Campus High Unknown NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Delay Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 75
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,181
Property Tax -$586
Property Insurance -$148
HOA -$57
Property Management Fees -$99
CASH FLOW
-$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,178

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,9004$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 918 Witherby Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
  • 1121 Timberlake Lane Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 1402 Di Orio Drive Lewisville, TX 2
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1998
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 1712 Cliffrose Lane Lewisville, TX 4
    • 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2002
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 1708 Mystic Hollow Drive Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 2002
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
PROPERTY LISTING DETAILS
Valerie Strickland
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518958
Last Updated: 02/20/2021
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