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10397 Balsam Drive Frisco, TX 75033

4 Beds 3 Baths 2,999 sqft Built 2003

$389,999

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $130.04
  • 3 Days on Market
  • MLS # : 14470164
  • Updated Date : 11/14/2020 at 10:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,999 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

This beautiful Frisco home has been updated with gorgeous hardwood floors, paint throughout, new front windows, energy efficient features, custom light fixtures, and an updated kitchen. Kitchen features a farmhouse sink, custom concrete countertops, new fixtures, SS 5 burner cooktop, and subway tile backsplash. Double French doors have been added to the front room to create a beautiful home office. Outside features an additional outdoor pergola and stone fireplace ideal for entertaining and a new 10 foot double footed fence. This home will not last!

SEE MORE

MARKET HIGHLIGHTS

  • . 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: Meadow Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Meadow Hill Estates

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
I. S. Rogers Elementary School Primary Regular 565 34 7
Benton A. Staley Middle School Middle Regular 715 60 7
Memorial High School High Regular NA

I. S. Rogers Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
7
GreatSchools Rating

Benton A. Staley Middle School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 60
7
GreatSchools Rating

Memorial High School

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

$350,999$428,999$389,999

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,439
Property Tax -$773
Property Insurance -$200
HOA -$33
Property Management Fees -$99
CASH FLOW
-$265

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.

$389,999

PROJECTED PRICE

$2,280

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2803$2,3004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 10397 Balsam Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,999 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,999 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.76
    •  
  • 11021 Prescott Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 3,023 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,023 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 10989 Prescott Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 2,832 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,832 Sqft ∙ Built 2005
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 8503 Prescott Circle Frisco, TX 4
    • 4 beds 4 baths ∙ 2,986 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,986 Sqft ∙ Built 1997
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 8409 Brown Stone Lane Frisco, TX 5
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 1998
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.90
    •  
PROPERTY LISTING DETAILS
Lacy Rushin
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470164
Last Updated: 11/14/2020
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