Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1113 Turner Lane Plano, TX 75094

4 Beds 2 Baths 2,256 sqft Built 2002

INVESTimate

$359,900

List Price

$2,000

$1,800 - $2,200

Rent Est.

$375,736  ( +4.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $159.53
  • 6 Days on Market
  • MLS # : 14413537
  • Updated Date : 08/24/2020 at 12:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,256 sqft
  • Baths : 2 full
Listing Agent

Arcadia Properties, Llc

Listing Agent's Description

Must see...won't last long! Great open floor plan with updates galore! Two living areas plus huge study. Beautiful kitchen with granite and 42-inch oak cabinets opens into family room with corner fireplace. Spacious bedrooms with great closet space. Backyard is private oasis with covered patio, hot tub, and lush landscaping. Greenbelt is on two sides of property, so very private! Almost $43,000 worth of improvements! (see list in documents).

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: Woodlands of Plano

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Woodlands of Plano

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262344

* 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
Schell Elementary School Primary Regular 668 45 8
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Schell Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 45
8
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,328
Property Tax -$612
Property Insurance -$158
HOA -$30
Property Management Fees -$99
CASH FLOW
-$227

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.

$359,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$5,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0004$2,0755$2,300
$2,300
RENT COMPS ANALYSIS
  • 1113 Turner Lane Plano, TX 3
    • 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 201 Elmcrest Drive Murphy, TX 1
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1997
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 5924 Mulvane Drive Plano, TX 2
    • 4 beds 2 baths ∙ 2,181 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,181 Sqft ∙ Built 2001
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 313 Hampstead Drive Murphy, TX 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2000
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.93
    •  
  • 5415 Wellington Drive Richardson, TX 5
    • 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1996
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Clare Weaver
Arcadia Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413537
Last Updated: 08/24/2020
BESbswy