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1319 Starshadow Drive Richardson, TX 75081

3 Beds 2 Baths 1,894 sqft Built 1980

INVESTimate

$294,000

List Price

$1,850

$1,665 - $2,035

Rent Est.

$324,811  ( +10.48%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1980
  • Price/Sqft : $155.23
  • 9 Days on Market
  • MLS # : 14415405
  • Updated Date : 08/23/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,894 sqft
  • Baths : 2 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Beautiful Home You Will Fall In Love As You walking in an Excellent location in an Extremely Desirable and Established neighborhood. Enjoy the Abundance of Tall Trees and the Scenic Walk to Yale Park. This Home Offers 3 Beds & 2 Bath. Open Floor Plan, Updates Incudes New Flooring Throughout, and Fresh Paint and Granits on the Kitchen.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Richardson Racquet Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Richardson Racquet Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10652171

* 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
Yale Elementary School Primary Regular 428 29 8
Yale Elementary School Middle Regular 428 29 8
Berkner High School High Regular 2,494 174 4

Yale Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 29
8
GreatSchools Rating

Yale Elementary School

  • Education Level: Middle
  • # of students: 428
  • # of teachers: 29
8
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$264,600$323,400$294,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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 $1,850
EXPENSES Loan Payment -$1,085
Property Tax -$698
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$168

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.

$294,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,660

INVESTMENT

$83,660

Down Payment
$73,500
Rehab Estimate
$5,750
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,500
Loan Amount $220,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,993

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$1,9505$2,295
$2,295
RENT COMPS ANALYSIS
  • 1319 Starshadow Drive Richardson, TX 1
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 1605 Willow Crest Drive Richardson, TX 2
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1982
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 1508 Meadow Glen Street Richardson, TX 3
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1980
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 1504 Fair Oaks Drive Richardson, TX 4
    • 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1980
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 1606 Stacey Court Richardson, TX 5
    • 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1974 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1974
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
PROPERTY LISTING DETAILS
Kashif Riaz
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415405
Last Updated: 08/23/2020
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