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PROPERTY INFO
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
- # 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: College Park East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$104,860
LOAN DETAILS
$1,380
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $93,500 |
| Loan Amount | $280,500 |
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
-
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
Briggs Freeman Sotheby's Int'l
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14492383
Last Updated: 12/30/2020
