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9724 Grouse Ridge Lane Little Elm, TX 75068

3 Beds 3 Baths 2,249 sqft Built 2015

$409,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $181.86
  • 4 Days on Market
  • MLS # : 14534593
  • Updated Date : 03/20/2021 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,249 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lm Max Realty

Listing Agent's Description

This beautiful Highland home in the amazing lakeside community of Wildridge in Oak Point won’t last long! Gorgeous bright 3 bedrooms, 2.5 baths, Media room, a study, gas fireplace & lots of natural light. Located on a over size corner lot with great view of the greenbelt, which was a builders model home. Plantation shutters, neutral paint, Hutch with glass upper doors, designer upgrades through out the house. 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 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)
  • 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)

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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,421
Property Tax -$828
Property Insurance -$157
HOA -$90
Property Management Fees -$99
CASH FLOW
-$484

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.

$409,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.52%

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

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$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0503$2,1104$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 9724 Grouse Ridge Lane Little Elm, TX 3
    • 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.94
    •  
  • 312 Sheridan Road Oak Point, TX 1
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2008
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 3316 Grande Aubrey, TX 2
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2020
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
  • 9616 Oxbow Lane Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2020
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 9917 Bitterroot Drive Oak Point, TX 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2019
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
PROPERTY LISTING DETAILS
Janaki Gopinath
Lm Max Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534593
Last Updated: 03/20/2021
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