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1329 Minter Road Plano, TX 75023

3 Beds 3 Baths 1,390 sqft Built 1985

$300,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $215.83
  • 4 Days on Market
  • MLS # : 14466623
  • Updated Date : 11/07/2020 at 10:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Quality craftsmanship and balanced design are evident the moment you step inside this newly updated and centrally located home off of Legacy Dr, 2 miles from US 75. It’s a warm yet bright, cozy yet expansive home with fresh paint and new lighting. New stainless steel appliances (including a gas drop in range), cabinetry, backsplash, and engineered marble countertops with stainless under-mount sink make the kitchen a chef’s delight. The owner’s suite is newly updated with an expanded bath including a separate water closet, new cabinetry, granite countertop and an over-sized modern shower. A tile surround fireplace and hand-crafted picture frame window casings give the home a fresh, modern look.

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: Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10472224

* 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
Thomas Elementary School Primary Regular 617 53 3
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Thomas Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 53
3
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,107
Property Tax -$510
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
-$224

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.

$300,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 1329 Minter Road Plano, TX 2
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 1225 Glyndon Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 1328 Chicota Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1985
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 1308 Minter Road Plano, TX 4
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1985
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
  • 1404 Seabrook Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Michelle Field
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466623
Last Updated: 11/07/2020
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