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1416 Blackburn Lane Plano, TX 75025

4 Beds 3 Baths 2,817 sqft Built 1989

INVESTimate

$355,000

List Price

$2,360

$2,124 - $2,596

Rent Est.

$380,028  ( +7.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $126.02
  • 6 Days on Market
  • MLS # : 14417679
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,817 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful curb appeal is just the start of this 2-story brick home located close to all Plano has to offer including exemplary schools! You are welcomed by a 2-story foyer with lots of windows filling the downstairs with natural light. 2 downstairs living rms, one with real hrdwd floors. Ktchen is open to the living rm, both with views of the backyard oasis & pool. Ktchn is a chef's delight with rich granite counters, an island, new subway tile backsplash & plenty of room for meal prep. Handy butlers pantry off the kitchen has a sink. All bdrms are upstairs & feature new laminate, wood-like flooring (no carpet!) Spacious master suite has 2 closets, a jetted tub & separate shower. Don't miss this great home!

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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: West Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: West Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262245

* 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
Hedgcoxe Elementary School Primary Regular 410 32 9
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Hedgcoxe Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 32
9
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

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

$319,500$390,500$355,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,310
Property Tax -$604
Property Insurance -$190
HOA -$4
Property Management Fees -$99
CASH FLOW
$153

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.

$355,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$35,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,366

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,2003$2,3604$2,3955$2,650
$2,650
RENT COMPS ANALYSIS
  • 1416 Blackburn Lane Plano, TX 3
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.84
    •  
  • 7113 Amethyst Lane Plano, TX 1
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1988
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.77
    •  
  • 6901 Aimpoint Drive Plano, TX 2
    • 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 1505 Endicott Drive Plano, TX 4
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 1405 Newbury Lane Plano, TX 5
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ginger Pickett
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417679
Last Updated: 08/21/2020
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