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10217 Stone Falls Lane Frisco, TX 75035

3 Beds 2 Baths 1,848 sqft Built 1997

$295,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $159.63
  • 3 Days on Market
  • MLS # : 14477784
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Meticulously maintained and updated home in Preston Vineyards awaits you! Entering the front door, you are welcomed by distressed rich hardwood floors and custom faux painted walls in the office and dining room on either side. The open concept living room, kitchen and breakfast room all have views to the beautiful backyard and stamped concrete patio which are perfect for entertaining. Nighttime entertaining on the patio is magical with up-spot lighting of the trees and moonlighting filtering through the trees. When entertaining is complete, the split bedrooms allow the owners to retire to the secluded master suite at the back of the home. Schedule your tour now to experience this wonderful home in person.

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

Neighborhood: Preston Vineyards

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Preston Vineyards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Bessie Gunstream Elementary School Primary Regular 698 42 8
Cal And Walt Wester Middle School Middle Regular 878 69 9
Centennial High School High Regular 2,065 138 9

Bessie Gunstream Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
8
GreatSchools Rating

Cal And Walt Wester Middle School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 69
9
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,065
  • # of teachers: 138
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,088
Property Tax -$585
Property Insurance -$134
HOA -$29
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.

$295,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9104$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 10217 Stone Falls Lane Frisco, TX 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.03
    •  
  • 7309 Sonoma Valley Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1998
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 10321 Ambergate Lane Frisco, TX 2
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1998
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 10505 N Ambergate Lane Frisco, TX 4
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1998
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.07
    •  
  • 10306 Ambergate Lane Frisco, TX 5
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kent Frederick
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477784
Last Updated: 12/04/2020
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