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9704 Bitterroot Drive Little Elm, TX 75068

5 Beds 3 Baths 2,983 sqft Built 2016

$424,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $142.44
  • 3 Days on Market
  • MLS # : 14479839
  • Updated Date : 12/04/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,983 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

*3D Virtual Tour Available*This beautiful Highland home in the amazing lakeside community of Wildridge in Oak Point won’t last long! Gorgeous bright, white kitchen w granite countertops, SS appliances, gas cooktop & large island w sink overlooks large living area w soaring ceilings, gas fireplace & lots of natural light. Plantation shutters, neutral paint throughout. Gameroom-media room w in-wall speakers & wiring, large backyard overlooking greenbelt w covered patio & extended concrete. Primary suite w spa-like bath and guest suite down plus bedrooms up. Great lot location backs up to one of many greenbelts & walking distance to Oak Point Elementary, Amenity Center Pavilion & Pool, this home truly has it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
 

$382,410$467,390$424,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,568
Property Tax -$860
Property Insurance -$200
HOA -$90
Property Management Fees -$99
CASH FLOW
-$286

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.

$424,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5304$2,7505$2,775
$2,775
RENT COMPS ANALYSIS
  • 9704 Bitterroot Drive Oak Point, TX 3
    • 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.85
    •  
  • 9617 Oxbow Lane Little Elm, TX 1
    • 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2020
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 1616 Clayton Lane Aubrey, TX 2
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 9820 Forester Trail Oak Point, TX 4
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 9804 Excursion Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Justin Croft
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479839
Last Updated: 12/04/2020
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