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13842 Salmon Drive Frisco, TX 75035

5 Beds 4 Baths 3,305 sqft Built 2007

$450,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $136.16
  • 1 Days on Market
  • MLS # : 14493101
  • Updated Date : 01/03/2021 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,305 sqft
  • Baths : 4 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Hard to find 5 BEDROOM 4 FULL BATH home in highly sought after FISD. Original Owner has lovingly cared for and maintained, now downsizing and hates to leave! Open concept 2 Story with Master AND Guest Bedroom down with Full Bath. 3 Oversized Bedrooms up with Full Bath AND Jack and Jill Bath! Gameroom has doors and walk in closet. Hardwood floors thru out kitchen, entry, dining and walkways. HUGE Eat In Kitchen with Window Seat, Oversize Breakfast Bar, SS Appliances, Gas Cooktop, Double Ovens, Granite and TONS of Cabinets. Master Suite has Bay Window, Oversized Shower, and Jetted Tub. Large interior yard with Covered Patio, Gazebo, and 3 CAR GARAGE. Walk to Community Pool. BETTER HURRY, THIS ONE WILL GO FAST!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Copper Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Copper Ridge

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
Liscano Elementary School Primary Regular NA
Independence High School High Unknown 1,161 102 9
Nelson Elementary School Primary Regular NA

Liscano Elementary School

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

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating

Nelson Elementary School

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

$405,000$495,000$450,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,660
Property Tax -$892
Property Insurance -$218
HOA -$35
Property Management Fees -$99
CASH FLOW
-$265

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.

$450,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6403$2,6504$2,7955$2,850
$2,850
RENT COMPS ANALYSIS
  • 13842 Salmon Drive Frisco, TX 2
    • 5 beds 4 baths ∙ 3,305 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,305 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.80
    •  
  • 10405 Sexton Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 13931 Pomegranate Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2014
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.80
    •  
  • 12545 Flowering Drive Frisco, TX 4
    • 5 beds 5 baths ∙ 3,278 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,278 Sqft ∙ Built 2014
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.85
    •  
  • 13061 Deep River Drive Frisco, TX 5
    • 4 beds 4 baths ∙ 3,246 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,246 Sqft ∙ Built 2011
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sharon Apligian
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493101
Last Updated: 01/03/2021
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