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9228 Wellington Drive Little Elm, TX 75068

4 Beds 2 Baths 2,000 sqft Built 2008

$265,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $132.50
  • 5 Days on Market
  • MLS # : 14468662
  • Updated Date : 11/12/2020 at 09:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Castle Hills

Listing Agent's Description

MULTIPLE OFFERS-Highest and best by 5 Friday, 11-13. Immaculate 4 bedroom home with 2 large living areas. There is a field behind so you won't have backyard neighbors. The layout provides a great floorplan for entertaining. Split bedrooms give you additional privacy in the master bedroom, and spacious secondary bedrooms are on opposite side. Front bedroom is perfect space for your office or study. Kitchen layout includes open access to both living areas and dining room for great flow. Nice covered patio for entertaining as well. Yard is a great size, and easy to maintain. The property is situated with easy access to Lake Lewisville, I35E, downtown Little Elm, and Highway 380. A must see!

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: 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

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$978
Property Tax -$555
Property Insurance -$143
HOA -$15
Property Management Fees -$99
CASH FLOW
-$90

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

$1,700

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$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.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 9228 Wellington Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 304 Glenview Drive Oak Point, TX 1
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2010
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 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
    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
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 3432 Fashion Street Little Elm, TX 5
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Mary Ellen Fletcher
Jp & Associates Castle Hills
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468662
Last Updated: 11/12/2020
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