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931 Plantation Drive Lewisville, TX 75067

3 Beds 3 Baths 1,727 sqft Built 1988

$279,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $162.07
  • 7 Days on Market
  • MLS # : 14460232
  • Updated Date : 11/23/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

ABSOLUTELY ADORABLE & AFFORDABLE 3 Bedroom, 2.5 Bath Home ready for new owners this Holiday! This lovely home features an inviting side patio and spacious private back yard with 13x10 storage building. Inside features include luxury vinyl plank floors in the living and dining areas, a nice wood burning fireplace and high vaulted ceiling. The kitchen boasts a custom sink and faucet hardware, attractive subway tile backslash, black appliances and lots of cabinetry. The downstairs Master suite features upgraded vanity and sinks, hardware, shower and lighting. The upstairs bedrooms are a nice size and split from Master suite. Attractive colors and fresh paint throughout make this home MOVE IN READY... HURRY!

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: Willow Grove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Willow Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10592171

* 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
Southridge Elementary School Primary Regular 692 53 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Southridge Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 53
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

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

$251,910$307,890$279,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,033
Property Tax -$483
Property Insurance -$127
Property Management Fees -$99
CASH FLOW
$79

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.

$279,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$24,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7504$1,8205$1,950
$1,950
RENT COMPS ANALYSIS
  • 931 Plantation Drive Lewisville, TX 4
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.05
    •  
  • 2133 Amherst Drive Lewisville, TX 1
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1993
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 2070 Belvedere Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 918 Plantation Drive Lewisville, TX 3
    • 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 1993
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 943 Winterstone Drive Lewisville, TX 5
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1993
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
PROPERTY LISTING DETAILS
David Blattner
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460232
Last Updated: 11/23/2020
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