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1128 Gannon Drive Plano, TX 75025

3 Beds 2 Baths 1,820 sqft Built 1981

$290,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $159.34
  • 3 Days on Market
  • MLS # : 14537657
  • Updated Date : 03/27/2021 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Dhs Realty

Listing Agent's Description

Perfect gem located in the heart of Plano! Minutes away from any shopping, dining, entertainment desired. Shops of Legacy, Allen outlets, Stonebriar mall all within a short drive time!! PLANO ISD+++! This 3-2-2 comes with 2 living rooms with a dry bar area! Make it a game room, office, or workout area = endless possibilities. Open floor concept with ample natural lighting. Nice covered patio centered off the rear of the house with permanent shade. Spacious front and rear yard to enjoy privacy, outdoor gatherings, etc. Opportunity to own in beautiful Plano, TX - DON'T MISS OUT!!!! Leasebacks will be needed - please see offer instructions! ** MULTIPLE OFFERS RECEIVED - BEST AND FINAL SUNDAY 3-28-21 by 8 PM **

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: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10892224

* 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
Beverly Elementary School Primary Regular 488 39 10
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Beverly Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 39
10
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,007
Property Tax -$493
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$68

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.

$290,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$19,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,866

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,7954$1,8005$1,975
$1,975
RENT COMPS ANALYSIS
  • 1128 Gannon Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1209 Gannon Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1982
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1013 Summertree Circle Plano, TX 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1983
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 1320 Finley Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1982
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 1304 Kesser Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1983
    property image
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.04
    •  
PROPERTY LISTING DETAILS
Shawn Ryken
Dhs Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537657
Last Updated: 03/27/2021
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