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10740 Castle Drive Frisco, TX 75035

3 Beds 2 Baths 1,470 sqft Built 1992

$270,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $183.67
  • 4 Days on Market
  • MLS # : 14480529
  • Updated Date : 12/05/2020 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Creekview Realty

Listing Agent's Description

Adorable 3 bedroom 2 bath split level home with the master bedroom upstairs! Wood Floors throughout the home and updated bathrooms & kitchen with GE Café stainless steel appliances. Corner lot with a large back yard for entertaining. Close to shopping, restaurants, and major highways. Extra sun room unlisted on tax records for storage, exercise, or hobbies.

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 Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $115k434k

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

Neighborhood: Preston Ridge

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
Christie Elementary School Primary Regular 685 48 4
Adelle R. Clark Middle School Middle Regular 853 65 8
Centennial High School High Regular 2,065 138 9

Christie Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 48
4
GreatSchools Rating

Adelle R. Clark Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 65
8
GreatSchools Rating

Centennial High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$996
Property Tax -$535
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$113

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.

$270,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7003$1,7254$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 10740 Castle Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.11
    •  
  • 7851 Roundtable Road Frisco, TX 2
    • 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 1993
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
  • 10978 Quest Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1994
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.12
    •  
  • 7850 Tournament Road Frisco, TX 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 10901 Camelot Drive Frisco, TX 5
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1996
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480529
Last Updated: 12/05/2020
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