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

11553 Teresa Lane Frisco, TX 75035

4 Beds 4 Baths 3,767 sqft Built 2017

$559,999

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.66
  • 4 Days on Market
  • MLS # : 14470664
  • Updated Date : 11/19/2020 at 12:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,767 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Spectacular NORTH facing home located @ Miramonte Estates in Frisco, TX! Exemplary Prosper schools! Home features 2 bedrooms downstairs including the Master Bedroom Suite looking out to an OVERSIZED backyard with covered patio ALONG with a home office-study. Open concept is enhanced by light neutral color palette, rich wood flooring throughout downstairs (carpet in the master and guest suites), a gorgeous kitchen with an oversized island, pantry, white cabinets, granite countertops, gas stove and SS appliances. Upstairs features 2 bedrooms and a full bathroom along with a media room and a game room! Community features include a pool, clubhouse, walking path and on-site elementary school.

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

Zip Code: 75035

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Zip Code: 75035

ZipNIR 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
Judy Rucker Elementary School Primary Regular 781 47 8
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Judy Rucker Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 47
8
GreatSchools Rating

Reynolds Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 68
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$503,999$615,999$559,999

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,066
Property Tax -$1,110
Property Insurance -$245
HOA -$83
Property Management Fees -$99
CASH FLOW
-$723

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.

$559,999

PROJECTED PRICE

$2,880

PROJECTED RENT

0.51%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $419,999
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,929

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7953$2,8504$2,8805$3,000
$3,000
RENT COMPS ANALYSIS
  • 11553 Teresa Lane Frisco, TX 4
    • 4 beds 4 baths ∙ 3,767 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,767 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.76
    •  
  • 11176 Progreso Street Frisco, TX 1
    • 4 beds 4 baths ∙ 3,604 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,604 Sqft ∙ Built 2016
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.75
    •  
  • 11532 Gatesville Drive Frisco, TX 2
    • 5 beds 4 baths ∙ 3,793 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,793 Sqft ∙ Built 2006
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.74
    •  
  • 11453 Santa Maria Road Frisco, TX 3
    • 5 beds 4 baths ∙ 3,663 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,663 Sqft ∙ Built 2016
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.78
    •  
  • 13863 Posada Drive Frisco, TX 5
    • 5 beds 5 baths ∙ 3,585 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,585 Sqft ∙ Built 2019
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tatyana Qureshi
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470664
Last Updated: 11/19/2020
BESbswy