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11485 Old Works Drive Frisco, TX 75035

4 Beds 3 Baths 2,327 sqft Built 1998

$385,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $165.45
  • 2 Days on Market
  • MLS # : 14494402
  • Updated Date : 01/09/2021 at 22:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,327 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Move In Ready in Plantation Springs! 4 bedrooms, 2.5 baths, plus Sparkling Pool on an Oversized Lot. Greeted with Soaring Vaulted Ceilings, Spiral Staircase & Many Recent Updates including Fresh Neutral Paint throughout, New Carpet, New Tile, New Kitchen Appliances & Much More. Open Concept Kitchen onlooking Family Room & Breakfast Nook with a Breakfast Bar & Gas Cooktop. Master Retreat updated with Frameless Walkin Shower, Dual Sinks, Separate Garden Tub & Walkin Shower. Secondary Bedrooms with a Gameroom Upstairs. Oversized Backyard is the Icing on the Cake...Inground Pool with Perimeter Fence...AND Still Room to Roam!

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: Plantation Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Plantation Springs

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
Smith Elementary School Primary Regular 603 39 9
Adelle R. Clark Middle School Middle Regular 853 65 8
Lebanon Trail High School High Regular NA

Smith Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
9
GreatSchools Rating

Adelle R. Clark Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 65
8
GreatSchools Rating

Lebanon Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,337
Property Tax -$763
Property Insurance -$162
HOA -$37
Property Management Fees -$99
CASH FLOW
-$108

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.

$385,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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-$6.0k-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,280

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,2903$2,2954$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 11485 Old Works Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.98
    •  
  • 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
    •  
  • 4416 Brett Drive Frisco, TX 3
    • 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 1994
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.94
    •  
  • 11968 Cobblestone Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 2000
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 10707 Sweetwater Drive Frisco, TX 5
    • 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 1998
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Angie Dyer
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494402
Last Updated: 01/09/2021
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