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1170 Shortgrass Lane Frisco, TX 75033

4 Beds 3 Baths 2,516 sqft Built 2019

$449,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $178.82
  • 3 Days on Market
  • MLS # : 14517965
  • Updated Date : 02/27/2021 at 00:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,516 sqft
  • Baths : 3 full
Listing Agent

Era Myers & Myers Realty

Listing Agent's Description

MULTIPLE OFFERS- PLEASE SUBMIT HIGHEST & BEST BY SUNDAY 2-28 AT 5PM. Immaculate! SHOWS LIKE A MODEL Home, which backs up to a greenbelt! A gorgeous open floorplan. The beautiful kitchen includes upgraded stainless steel appliances and opens up directly to the great room with a cozy fireplace. Enjoy your private study off the foyer with French doors. The extended master suite includes a spacious walk-in closet. The master bath has dual vanities, refreshing garden tub & a walk-in shower. Upstairs features a private 4th bedroom or bonus room & bath. Relax out back on the gorgeous covered patio while enjoying the beauty of the backyard hillside view during blue bonnet season! With an oversized 2 car tandem garage.

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: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Grayhawk

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
Billy Gene Phillips Elementary School Primary Unknown NA
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Billy Gene Phillips Elementary School

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

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,563
Property Tax -$792
Property Insurance -$173
HOA -$80
Property Management Fees -$99
CASH FLOW
-$446

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.

$449,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,998
1$1,9982$2,1953$2,2504$2,2605$2,499
$2,499
RENT COMPS ANALYSIS
  • 1170 Shortgrass Lane Frisco, TX 4
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.90
    •  
  • 14801 Frisco Ranch Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.85
    •  
  • 2709 Waterdance Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2006
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 14800 Southview Trail Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 1037 Shortgrass Lane Frisco, TX 5
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2020
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael Martini
Era Myers & Myers Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517965
Last Updated: 02/27/2021
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