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12173 Bethel Drive Frisco, TX 75033

4 Beds 3 Baths 2,872 sqft Built 2006

$399,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $138.93
  • 3 Days on Market
  • MLS # : 14465503
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,872 sqft
  • Baths : 3 full
Listing Agent

Sophia Polk Realty

Listing Agent's Description

***OPEN HOUSE SUNDAY NOVEMBER 8TH FROM 2PM-4PM*** New HVAC Unit Installed in July 2020. Fresh Paint 2020! Board on Board Fence 2019! Beautiful Village at Cobb Hill Home w Superb Floorplan! Feels like new construction! Frisco ISD Schools with just a few minute's walk to Memorial High School! Study with Built-Ins and Formal Dining Upon Entry. Granite Island Kitchen Opens to Family Room. Large Master Suite w Separate Shower and Tub, Dual Vanities, and Big Closet! Two Additional Bedrooms Downstairs. Game Room and En-Suite Bedroom Upstairs! Just Steps Away from Neighborhood Park! Easy Acess to get on and off the Toll Way!

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: Village at Cobb Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k446k

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

Neighborhood: Village at Cobb Hill

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
I. S. Rogers Elementary School Primary Regular 565 34 7
Benton A. Staley Middle School Middle Regular 715 60 7
Memorial High School High Regular NA

I. S. Rogers Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
7
GreatSchools Rating

Benton A. Staley Middle School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 60
7
GreatSchools Rating

Memorial High School

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

$359,100$438,900$399,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,472
Property Tax -$791
Property Insurance -$193
HOA -$45
Property Management Fees -$99
CASH FLOW
-$301

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.

$399,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,263

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,412

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3004$2,6505$2,750
$2,750
RENT COMPS ANALYSIS
  • 12173 Bethel Drive Frisco, TX 3
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 12189 Bethel Drive Frisco, TX 1
    • 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 2006
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 10920 Jewelweed Frisco, TX 2
    • 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 2001
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 5934 Lofland Drive Frisco, TX 4
    • 4 beds 4 baths ∙ 3,064 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,064 Sqft ∙ Built 2008
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.86
    •  
  • 2172 Poppyvine Road Frisco, TX 5
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2019
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sophia Polk
Sophia Polk Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465503
Last Updated: 11/06/2020
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