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1460 Ridge Meadow Drive Plano, TX 75074

3 Beds 2 Baths 1,969 sqft Built 1994

$325,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $165.06
  • 4 Days on Market
  • MLS # : 14474106
  • Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,969 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Bring your picky Buyers, they will not be disappointed. Kitchen is remodeled to perfection & would make Joanna Gaines proud! Remodel includes Quartz countertops, custom cabinets with some pull outs & soft close, tile bk splsh, island, Stainless applcs include double ovens with micro-convection on top & cute floating shelving U have got to see. Walls have been moved to give open concept everyone wants in Kitchen-dining-family rm. Updated LVP wood flooring, gas start FP & updated lighting round out space. Flexibility includes a front office & room off master that could be 2nd office or your choice. Master features double sinks, sep shower-tub & custom closet systems in 1 of 2 master closets. Hurry it won't last!

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: Ridge Gate Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: Ridge Gate Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10732224

* 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
Forman Elementary School Primary Regular 553 53 4
Armstrong Middle School Middle Regular 681 55 5
Mcmillen High School High Regular 1,088 70 8

Forman Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 53
4
GreatSchools Rating

Armstrong Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 55
5
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,199
Property Tax -$553
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$132

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8603$1,8704$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1460 Ridge Meadow Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.94
    •  
  • 4200 San Saba Court Plano, TX 1
    • 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1978
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.99
    •  
  • 3924 Coronado Drive Plano, TX 3
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1984
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.97
    •  
  • 1528 Estrella Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1985
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 4036 Coronado Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1987
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Stephen Trosclair
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474106
Last Updated: 11/19/2020
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