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929 Southwood Drive Highland Village, TX 75077

4 Beds 3 Baths 3,121 sqft Built 1994

$425,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $136.17
  • 7 Days on Market
  • MLS # : 14468120
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,121 sqft
  • Baths : 3 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Highly desired Highland Shores community, David Weekly home that sits on a corner lot overlooking greenspace. 4 Bdrm. 3 bath, including a mother-law bedroom on first floor. Great floor plan with a saltwater play pool with walking trails located across the street. Original owner has purchased a new home. Highland Village schools All information not guaranteed, buyer and buyers agent to verify information. Sellers will make decision on all offers at 5:00 Sunday, Nov.15

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: 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
Mcauliffe Elementary School Primary Regular 520 37 9
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 37
9
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,568
Property Tax -$780
Property Insurance -$208
HOA -$69
Property Management Fees -$99
CASH FLOW
-$144

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.

$425,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,7003$2,7504$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 929 Southwood Drive Highland Village, TX 1
    • 4 beds 3 baths ∙ 3,121 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,121 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.83
    •  
  • 2992 Marchwood Drive Highland Village, TX 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.90
    •  
  • 2706 Garrett Drive Highland Village, TX 3
    • 5 beds 4 baths ∙ 3,136 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,136 Sqft ∙ Built 2005
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.88
    •  
  • 945 Crown Court Highland Village, TX 4
    • 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 1993
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
  • 3410 Wimbledon Drive Highland Village, TX 5
    • 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 1999
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
James Fuller
Re/max Advantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468120
Last Updated: 11/13/2020
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