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12214 Limestone Drive Frisco, TX 75033

4 Beds 2 Baths 3,020 sqft Built 2001

$464,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $153.94
  • 2 Days on Market
  • MLS # : 14499542
  • Updated Date : 01/16/2021 at 13:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,020 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

IN THE HEART OF WEST FRISCO! Beautiful 1.5 story former model. Great home to entertain with pool and open floor plan!! New wood floors downstairs in all common areas. 3 living areas & formal dining. All bedrooms downstairs and split from owners retreat. Kitchen is open to family room. Game room or Bonus room is upstairs with new carpet. Kitchen features 42in cabinets, island, gas cooktop. Large Owners room with a huge closet! Very Convenient & Frisco Schools. Hurry this beauty won't last!! Please excuse the dust, floors were just installed

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: Northridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Northridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Mary M. Boals Elementary School Primary Regular 704 42 8
Trent Middle School Middle Regular NA
Lone Star High School High Regular 1,365 105 NA

Mary M. Boals Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 42
8
GreatSchools Rating

Trent Middle School

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

Lone Star High School

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

$418,410$511,390$464,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,615
Property Tax -$818
Property Insurance -$202
HOA -$58
Property Management Fees -$99
CASH FLOW
-$392

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.

$464,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$10k-$5.0k$0.0$5.0k$10k

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$128,949

INVESTMENT

$128,949

Down Payment
$116,225
Rehab Estimate
$5,750
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,424

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,2953$2,3504$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 12214 Limestone Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 11967 Eden Frisco, TX 1
    • 4 beds 4 baths ∙ 2,976 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,976 Sqft ∙ Built 2006
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.77
    •  
  • 2229 Goliad Circle Frisco, TX 2
    • 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2001
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.76
    •  
  • 11841 Eden Lane Frisco, TX 3
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 13026 Stapleton Drive Frisco, TX 5
    • 4 beds 3 baths ∙ 3,076 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,076 Sqft ∙ Built 2006
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Marla Gober
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499542
Last Updated: 01/16/2021
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