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1416 Heidi Drive Plano, TX 75025

4 Beds 2 Baths 2,211 sqft Built 1986

$331,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $150.11
  • 5 Days on Market
  • MLS # : 14511653
  • Updated Date : 02/05/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,211 sqft
  • Baths : 2 full
Listing Agent

Huggins Realty

Listing Agent's Description

*MULTIPLE OFFERS RECEIVED. SUBMIT HIGHEST AND BEST BY SATURDAY AT 9PM* Beautifully maintained move-in ready home! This home features an adorable front porch, gorgeous laminate hardwoods, designer lighting & more. The open flowing floor plan with (wet) bar is perfect for entertaining and family gatherings. The kitchen boasts granite tops, stainless steel appliances, 2 PANTRIES & a breakfast bar open to the family room. Enjoy the extended patio area right off the kitchen family in the backyard with large trees and mature landscaping. The master is a true retreat with window seat & en suite bath featuring dual sinks, garden tub with separate shower & walk-in closet. Roof replaced 2018 w 50-yr shingles.

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: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10892224

* 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
 

$298,710$365,090$331,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,153
Property Tax -$565
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$1

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.

$331,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$93,704

INVESTMENT

$93,704

Down Payment
$82,975
Rehab Estimate
$5,750
Closing Costs
$4,979

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,975
Loan Amount $248,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,649

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9553$1,9704$2,0505$2,195
$2,195
RENT COMPS ANALYSIS
  • 1416 Heidi Drive Plano, TX 3
    • 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.89
    •  
  • 1621 Kesser Drive Plano, TX 1
    • 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 1985
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 1401 Mullins Drive Plano, TX 2
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1986
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,955
    • $0.94
    •  
  • 1352 Kesser Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1983
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.98
    •  
  • 7821 Prescott Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1986
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kenneth Huggins
Huggins Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511653
Last Updated: 02/05/2021
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