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1213 Canoe Lane Plano, TX 75023

3 Beds 3 Baths 2,068 sqft Built 1991

$305,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $147.49
  • 6 Days on Market
  • MLS # : 14506432
  • Updated Date : 01/26/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,068 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart Stars

Listing Agent's Description

Beautiful newly updated home in west Plano really quit subdivision located by legacy Rd. 3 bedrooms, 3 living areas 2 dining areas Plus study room added too, kitchen lighting electric points recently upgraded, covered patio could be use as sun room as will add recently also whole Capet has been removed and replaced by beautiful wood floor! All bedrooms walking closets, Kitchen has a lot of counter and storage space, Separate living area upstairs that could be great for kids also it has great view to down stairs living area! the roof was replaced couple years ago. welcome to come take look! Virtual Video walk through available!

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: Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10402224

* 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
Thomas Elementary School Primary Regular 617 53 3
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Thomas Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 53
3
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,059
Property Tax -$519
Property Insurance -$147
HOA -$22
Property Management Fees -$99
CASH FLOW
$34

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.

$305,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
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-$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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,649
1$1,6492$1,8503$1,8804$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1213 Canoe Lane Plano, TX 3
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.91
    •  
  • 6824 Hickory Creek Plano, TX 1
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.80
    •  
  • 6701 Hornbeam Court Plano, TX 2
    • 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1989
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 6809 E Sugar Maple Creek Plano, TX 4
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1989
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 904 Gordon Oaks Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1990
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
PROPERTY LISTING DETAILS
Raed Alsabah
Homesmart Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506432
Last Updated: 01/26/2021
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