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1407 Scarlet Lane Frisco, TX 75033

3 Beds 3 Baths 2,148 sqft Built 2018

$420,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $195.53
  • 3 Days on Market
  • MLS # : 14480227
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful, immaculate, like-new home, built Dec 2018, shows like a model home. Wood floors adorn the study, hall, kitchen, dining and family rooms. Boasts of upgraded gourmet kitchen with granite counters and island, marble backsplash, SS appliances, wood panel-wrapped island with legs, under cabinet lights, chandeliers, lights, fixtures and more! Gorgeous master suite with dramatic tray ceiling and oversized 12 in rain shower. Enjoy 104 ft of private backyard entertaining space or community pond, parks, bike and walking trails. Frisco ISD, but lower Denton county taxes. Blocks from future home of PGA HQ, near Frisco RoughRiders, STAR in Frisco, food, shopping, Lake Lewisville 6 mi. Plus 10 yr builder warranty.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Billy Gene Phillips Elementary School Primary Unknown 749 42 NA
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Billy Gene Phillips Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 42
NA
GreatSchools Rating

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,550
Property Tax -$739
Property Insurance -$151
HOA -$80
Property Management Fees -$99
CASH FLOW
-$619

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.

$420,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$36

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8803$1,8954$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1407 Scarlet Lane Frisco, TX 5
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 14640 Logan Springs Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2003
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 14701 Brandon Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2012
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.96
    •  
  • 14600 Little Anne Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2003
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 14912 Lone Spring Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2012
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anita Berry
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480227
Last Updated: 12/04/2020
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