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11513 Charlotte Lane Frisco, TX 75035

3 Beds 3 Baths 2,400 sqft Built 1995

$415,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $172.92
  • 2 Days on Market
  • MLS # : 14471543
  • Updated Date : 11/14/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,400 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Firm Global, Pllc

Listing Agent's Description

This beautiful home on the corner lot is ready for a new owner to enjoy. The kitchen has granite countertops and upgraded cabinets overlooking the family room. It has a privacy fence so you can enjoy the custom-built pool and spa. This home has been well taken care of. This neighborhood is in high demand. The owner will need a temporary lease back to the end of January 2021.

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: Plantation Resort

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Plantation Resort

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,531
Property Tax -$823
Property Insurance -$166
HOA -$28
Property Management Fees -$99
CASH FLOW
-$476

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.

$415,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1504$2,1705$2,450
$2,450
RENT COMPS ANALYSIS
  • 11513 Charlotte Lane Frisco, TX 4
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.90
    •  
  • 11401 Knoxville Lane Frisco, TX 1
    • 4 beds 2 baths ∙ 2,330 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,330 Sqft ∙ Built 1995
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 6109 Wilmington Drive Frisco, TX 2
    • 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 1997
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.92
    •  
  • 11317 Knoxville Lane Frisco, TX 3
    • 3 beds 2 baths ∙ 2,391 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,391 Sqft ∙ Built 1994
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 11405 New Orleans Drive Frisco, TX 5
    • 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1995
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lam Dinh
Realty Firm Global, Pllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471543
Last Updated: 11/14/2020
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