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10116 Burnt Mill Lane Frisco, TX 75035

5 Beds 4 Baths 4,492 sqft Built 2005

$479,900

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $106.83
  • 3 Days on Market
  • MLS # : 14504517
  • Updated Date : 01/23/2021 at 13:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,492 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

NO SHOWINGS UNTIL SUNDAY JANUARY 31st. Under the market value! Exquisite Grand Home in highly sought after Dominions of Panther Creek. Stunning 22' two-story foyer invites you into the formal living & dining with a dramatic spiral staircase. Home offers light & bright open floorplan with numerous upgrades including stone & brick exterior, Juliette interior balcony, rich hand-scraped hardwood floors, spacious tandem 3-car garage in the rear. Master Retreat with attached bonus room is perfect for exercise room or nursery. Second floor offers an additional 4 bedrooms, 2 baths, media & game rooms, and an executive study with french doors. Amazing Community pool, park, ponds, and jogging trails.

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

Neighborhood: The Village at Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k461k

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

Neighborhood: The Village at Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262762

* 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
Polly Tadlock Elementary School Primary Regular 703 41 8
Libby Cash Maus Middle School Middle Regular 891 60 NA
Memorial High School High Regular NA

Polly Tadlock Elementary School

  • Education Level: Primary
  • # of students: 703
  • # of teachers: 41
8
GreatSchools Rating

Libby Cash Maus Middle School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 60
NA
GreatSchools Rating

Memorial High School

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

$431,910$527,890$479,900

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$1,667
Property Tax -$951
Property Insurance -$287
HOA -$46
Property Management Fees -$99
CASH FLOW
$50

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.

$479,900

PROJECTED PRICE

$3,100

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$23,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $3,111

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9753$3,0004$3,1005$3,180
$3,180
RENT COMPS ANALYSIS
  • 10116 Burnt Mill Lane Frisco, TX 4
    • 5 beds 4 baths ∙ 4,492 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,492 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.69
    •  
  • 10579 Shire View Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 4,321 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,321 Sqft ∙ Built 2010
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.68
    •  
  • 12694 Loxley Drive Frisco, TX 2
    • 5 beds 5 baths ∙ 4,512 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,512 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.66
    •  
  • 10617 Bartlett Drive Frisco, TX 3
    • 4 beds 5 baths ∙ 4,251 Sqft ∙ Built 2018 4 beds 5 baths ∙ 4,251 Sqft ∙ Built 2018
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.71
    •  
  • 11920 Gladstone Court Frisco, TX 5
    • 5 beds 5 baths ∙ 4,400 Sqft ∙ Built 2004 5 beds 5 baths ∙ 4,400 Sqft ∙ Built 2004
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $0.72
    •  
PROPERTY LISTING DETAILS
Irina Kremen
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504517
Last Updated: 01/23/2021
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