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920 Lochmoor Lane Highland Village, TX 75077

5 Beds 3 Baths 2,718 sqft Built 1993

$409,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $150.81
  • 3 Days on Market
  • MLS # : 14497737
  • Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Beautiful 5 bedroom 2 and half bath home with exemplary Flower Mound Schools and established neighborhood. The master suite is on the 1st floor with bay windows overlooking the pool, master bathroom includes double vanities, separate jet tub, standing shower and walk in closets. Kitchen features granite countertops with an island, stainless steel appliances and gas cook top. Upstairs you will find 4 additional bedrooms with new carpet, one of the bedroom could be used as a game room. Relax and enjoy this beautiful backyard with a pool. This home won't last long!

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: Briarhill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k400k

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

Neighborhood: Briarhill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262852

* 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
 

$368,910$450,890$409,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,424
Property Tax -$750
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
$173

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.

$409,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$33,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,609

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5004$2,6305$2,750
$2,750
RENT COMPS ANALYSIS
  • 920 Lochmoor Lane Highland Village, TX 4
    • 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.97
    •  
  • 2509 Cross Haven Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 2677 Hillside Drive Highland Village, TX 2
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1991
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
  • 850 Kingwood Court Highland Village, TX 3
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1991
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 6101 Crestside Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 1997
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Swapnil Sharma
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497737
Last Updated: 01/29/2021
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