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1224 Crockett Drive Frisco, TX 75033

4 Beds 5 Baths 4,719 sqft Built 2004

$700,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $148.34
  • 4 Days on Market
  • MLS # : 14480242
  • Updated Date : 12/03/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,719 sqft
  • Baths : 4 full , 1 half
Listing Agent

Rockin H Realty

Listing Agent's Description

Stunning custom home in highly sought after FIVE STAR neighborhood. One of the few left with a POOL! Amazing balcony overlooking huge living room with floor to ceiling fireplace and windows, media room with theater seating, hand-scraped, distressed hardwood floors, fireplace between master and bath, 2 headed rainfall shower, custom executive office with additional mid-level office space overlooking kitchen. Gourmet kitchen has cabinets galore, ample counter space. Roof replaced 2017. Beautiful back yard oasis no lawnmower needed back there! Stone patio with outdoor kitchen, fire pit, Pool and spa with stone waterfall surrounded by exotic landscaping and palm trees could not be more perfect for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: The Trails

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
Weldon F. Corbell Elementary School Primary Regular 714 44 8
Robert Cobb Middle School Middle Regular 909 63 NA
Justin Wakeland High School High Regular 2,220 140 9

Weldon F. Corbell Elementary School

  • Education Level: Primary
  • # of students: 714
  • # of teachers: 44
8
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$2,583
Property Tax -$1,232
Property Insurance -$300
HOA -$48
Property Management Fees -$99
CASH FLOW
-$262

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.

$700,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$18,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,000

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $4,235

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,8503$4,0004$4,5005$4,950
$4,950
RENT COMPS ANALYSIS
  • 1224 Crockett Drive Frisco, TX 3
    • 4 beds 5 baths ∙ 4,719 Sqft ∙ Built 2004 4 beds 5 baths ∙ 4,719 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.85
    •  
  • 1801 Darnell Circle Frisco, TX 1
    • 4 beds 4 baths ∙ 4,614 Sqft ∙ Built 2000 4 beds 4 baths ∙ 4,614 Sqft ∙ Built 2000
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.76
    •  
  • 3530 Munstead Trail Frisco, TX 2
    • 5 beds 5 baths ∙ 4,369 Sqft ∙ Built 2005 5 beds 5 baths ∙ 4,369 Sqft ∙ Built 2005
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.88
    •  
  • 11765 Azteca Lane Frisco, TX 4
    • 5 beds 4 baths ∙ 4,795 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,795 Sqft ∙ Built 2007
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.94
    •  
  • 1471 Yuma Drive Frisco, TX 5
    • 5 beds 5 baths ∙ 4,905 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,905 Sqft ∙ Built 2006
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.01
    •  
PROPERTY LISTING DETAILS
Chad Dannheim
Rockin H Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480242
Last Updated: 12/03/2020
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