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524 Newport Drive 
Flower Mound, TX
75028
3 Beds 2 Baths 1,547 sqft
Built 1993
INVESTimate
$274,900
List Price
$78,599
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PROPERTY INFO
FACTS
- Built In 1993
- Price/Sqft : $177.70
- 2 Days on Market
- MLS # : 14420950
- Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,547 sqft
- Baths : 2 full
Listing Agent
The Michael Group Real Estate
Listing Agent's Description
Adorable & affordable 3 bedroom home, Mature trees and great back yard at awarding Flower Mound School. within walking distance of elementary school. Nestled in quiet Flower Mound neighborhood. Beautiful Wood floor through out other than one bedroom. Large and Open living and dining, with an abundance of natural light. Updated kitchen and master bath room. Large backyard with storage shed. House is ready to move in!
SEE MORE
- . 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: The Village at Lake Bluff
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Village at Lake Bluff
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,730 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$475 | |
| Property Insurance | -$117 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$25
|
||
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.
$274,900
PROJECTED PRICE
$1,730
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 6.83% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
5.42
YEARS SAVED
$18,731
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,730
LIST RENT -
$1.12
LIST RENT PER SQFT
-
$1,729
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
-
524 Newport Drive Flower Mound, TX 2
- 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,730
- $1.12
-
620 Teakwood Drive Flower Mound, TX 1
- 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1991
![property image]()
LEASED 09/09/19- Rent
- Rent Per SQFT
- $1,725
- $1.11
-
908 Stone Trail Drive Flower Mound, TX 3
- 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1990
![property image]()
LEASED 06/06/20- Rent
- Rent Per SQFT
- $1,825
- $1.10
-
2212 Shelmar Drive Flower Mound, TX 4
- 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1993
![property image]()
LEASED 11/15/19- Rent
- Rent Per SQFT
- $1,850
- $1.14
-
2132 Newport Drive Flower Mound, TX 5
- 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1993
![property image]()
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,950
- $1.12
PROPERTY LISTING DETAILS
The Michael Group Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14420950
Last Updated: 08/25/2020
