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1100 Windsong Trail Richardson, TX 75081

5 Beds 4 Baths 2,936 sqft Built 1983

$374,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $127.38
  • 5 Days on Market
  • MLS # : 14492383
  • Updated Date : 12/30/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,936 sqft
  • Baths : 3 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Lovely Richardson Home located in the highly desirable College Park Estates on a large corner lot. Large floor plan with 3 bedrooms, 2.1 baths located on the main level and 2 additional bedrooms and another full bath in the upstairs addition. Multiple living areas and a large formal living room. Formal dining room located off the kitchen which also offers an additional eating area. Great layout that with multiple areas from entertainment and family living. Big backyard perfect for family activities. Fantastic location with schools close by and easy access to major highways. Great house in a desirable area that with some love, would make the perfect family home for years to come.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: College Park East

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: College Park East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262189

* 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
Jess Harben Elementary School Primary Regular 361 23 6
Jess Harben Elementary School Middle Regular 361 23 6
Berkner High School High Regular 2,494 174 4

Jess Harben Elementary School

  • Education Level: Primary
  • # of students: 361
  • # of teachers: 23
6
GreatSchools Rating

Jess Harben Elementary School

  • Education Level: Middle
  • # of students: 361
  • # of teachers: 23
6
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$336,600$411,400$374,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,380
Property Tax -$873
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
-$129

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.

$374,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,860

INVESTMENT

$104,860

Down Payment
$93,500
Rehab Estimate
$5,750
Closing Costs
$5,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,380

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,500
Loan Amount $280,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,776

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,753

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,345
1$2,3452$2,4203$2,5004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1100 Windsong Trail Richardson, TX 2
    • 5 beds 4 baths ∙ 2,936 Sqft ∙ Built 1983 5 beds 4 baths ∙ 2,936 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.82
    •  
  • 900 Mount Vernon Drive Richardson, TX 1
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1978
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.90
    •  
  • 623 Harvest Glen Drive Richardson, TX 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1977
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 1029 Lake Ridge Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2003
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
  • 614 Killarney Richardson, TX 5
    • 4 beds 4 baths ∙ 2,873 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,873 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Zach Mrusek
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492383
Last Updated: 12/30/2020
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