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11017 Ormond Lane Frisco, TX 75035

4 Beds 3 Baths 2,312 sqft Built 1988

$370,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $160.03
  • 3 Days on Market
  • MLS # : 14472698
  • Updated Date : 11/21/2020 at 09:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,312 sqft
  • Baths : 3 full
Listing Agent

Re/max Premier

Listing Agent's Description

THIS IS THE ONE! Beautifully Updated, Well Maintained Home in Plantation Resort featuring 4 Bedrooms (Master & Guest Downstairs), 3 Full Baths, 2 Living & 2 Dining Areas. Upgrades Include: Extensive Hand Scraped Hardwood Flooring; Plantation Shutters; Can Lighting; Wood Staircase & Upgraded Iron Hand Railing; Granite Counter Tops in Kitchen & All Bathrooms; Updated Stainless Appliances; Wet Bar. Travertine Floors & Shower Walls in All Bathrooms; Upgraded Trim Package Includes 5 Inch Baseboards, Gorgeous Crown Molding, F-C Mantle; Large Covered Back Patio; Extended Driveway; Board on Board Cedar Fence. Great Location in Quiet Neighborhood, Loads of Amenities, Frisco ISD! Easy Access to 121, Shopping & Dining!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plantation Resort Augusta Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Plantation Resort Augusta Farm

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
Claude Curtsinger Elementary School Primary Regular 624 39 10
Cal And Walt Wester Middle School Middle Regular 878 69 9
Centennial High School High Regular 2,065 138 9

Claude Curtsinger Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 39
10
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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,365
Property Tax -$733
Property Insurance -$161
HOA -$16
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.

$370,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,150

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,0953$2,1004$2,1105$2,185
$2,185
RENT COMPS ANALYSIS
  • 11017 Ormond Lane Frisco, TX 4
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.91
    •  
  • 11413 Sunrise Lane Frisco, TX 1
    • 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.94
    •  
  • 5103 Baton Rouge Boulevard Frisco, TX 2
    • 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 1995
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 5308 Promise Land Frisco, TX 3
    • 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 1993
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 5400 Belle Chasse Lane Frisco, TX 5
    • 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 1991
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,185
    • $0.93
    •  
PROPERTY LISTING DETAILS
Chuck Collins
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472698
Last Updated: 11/21/2020
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