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1316 Newbury Lane Plano, TX 75025

4 Beds 3 Baths 2,874 sqft Built 1991

INVESTimate

$375,000

List Price

$2,180

$1,962 - $2,398

Rent Est.

$401,438  ( +7.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $130.48
  • 1 Days on Market
  • MLS # : 14420847
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,874 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Premier

Listing Agent's Description

Professionally landscaped drive-up on decked out home in West Creek Estates! All the updating has been done for you w- new carpet, new interior paint, new granite & sinks, new wrought iron balusters & more! Island kitchen w- slab granite, gas cooktop (!), stone backsplash, stainless steel appliances, & tons of cabinets. Master suite w- his & her closets, renovated bath w- frameless glass shower w- new tile & fixtures, granite counters w- undermount sinks & new hardware, jetted tub & framed mirrors! Game room is great for media or home-office during Covid! Secondary bedrooms share a renovated bath w- dual, undermount sinks & granite counters. Just steps to Hoblitzelle Park & minutes to 75-Central, 121-SRT!

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: West Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: West Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262245

* 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
Hedgcoxe Elementary School Primary Regular 410 32 9
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Hedgcoxe Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 32
9
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,384
Property Tax -$638
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$134

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.

$375,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$11,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,414

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,1803$2,2004$2,3955$2,650
$2,650
RENT COMPS ANALYSIS
  • 1316 Newbury Lane Plano, TX 2
    • 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.76
    •  
  • 7113 Amethyst Lane Plano, TX 1
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1988
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.77
    •  
  • 6901 Aimpoint Drive Plano, TX 3
    • 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 1505 Endicott Drive Plano, TX 4
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 1405 Newbury Lane Plano, TX 5
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Leonard Thomas
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420847
Last Updated: 08/25/2020
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