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13378 Chittamwood Lane Frisco, TX 75035

5 Beds 4 Baths 4,326 sqft Built 2007

$489,900

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $113.25
  • 3 Days on Market
  • MLS # : 14532913
  • Updated Date : 03/20/2021 at 09:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,326 sqft
  • Baths : 3 full , 1 half
Listing Agent

Promise Realty Services

Listing Agent's Description

Beautifull 5 bedroom, 3.5 bath home with 4 living areas. Formal living & dining, den & master down. Plenty of living space downstairs with open floorplan & large kitchen. Master is downstairs with large private bath, but upstairs could be a second master suite!! HUGE GAMEROOM- 26 x 19 with attached media room. 5th BR has double door entry & could be a study, hobby room. 4 bedrooms, gameroom, media room & 2 baths upstairs. Kitchen has granite counters & ceramic tile floor. Must See!

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: Villages at Willow Bay

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k477k

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

Neighborhood: Villages at Willow Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262768

* 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
Liscano Elementary School Primary Regular NA
Libby Cash Maus Middle School Middle Regular 891 60 NA
Heritage High School High Regular 1,844 125 9

Liscano Elementary School

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

Libby Cash Maus Middle School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 60
NA
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,844
  • # of teachers: 125
9
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,702
Property Tax -$971
Property Insurance -$277
HOA -$50
Property Management Fees -$99
CASH FLOW
-$229

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.

$489,900

PROJECTED PRICE

$2,870

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.3%
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$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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $3,093

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,870
1$2,8702$2,9503$2,9504$2,9995$3,275
$3,275
RENT COMPS ANALYSIS
  • 13378 Chittamwood Lane Frisco, TX 1
    • 5 beds 4 baths ∙ 4,326 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,326 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.66
    •  
  • 14529 Marigold Drive Frisco, TX 2
    • 6 beds 4 baths ∙ 4,285 Sqft ∙ Built 2015 6 beds 4 baths ∙ 4,285 Sqft ∙ Built 2015
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.69
    •  
  • 12326 Bridgeport Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 4,158 Sqft ∙ Built 2016 5 beds 4 baths ∙ 4,158 Sqft ∙ Built 2016
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.71
    •  
  • 13638 Lincolnshire Lane Frisco, TX 4
    • 5 beds 4 baths ∙ 4,264 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,264 Sqft ∙ Built 2006
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.70
    •  
  • 13085 Alvarado Lane Frisco, TX 5
    • 6 beds 4 baths ∙ 4,317 Sqft ∙ Built 2017 6 beds 4 baths ∙ 4,317 Sqft ∙ Built 2017
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $0.76
    •  
PROPERTY LISTING DETAILS
Thomas Varghese
Promise Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532913
Last Updated: 03/20/2021
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