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1514 Stonecrest Drive Richardson, TX 75081

4 Beds 3 Baths 2,342 sqft Built 1980

$319,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $136.21
  • 3 Days on Market
  • MLS # : 14475078
  • Updated Date : 11/28/2020 at 19:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,342 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. DEADLINE NOON ON MONDAY 11-30-2020. Update single story home in established neighborhood. Over 2,300 sqft. Luxury vinyl flooring throughout main living areas. Natural light fills the living room & includes vaulted ceiling, wood burning fireplace & wet bar. Sleek black appliances contrast white cabinets & granite countertops in kitchen, which also includes double oven, undermounted basin sink & pantry. Dining area features chair rail molding, chandelier & French doors. Cove ceiling & crown molding in master bedroom, & vaulted ceiling, skylight, dual vanities, garden tub & separate shower in master bath. Large fenced in backyard with patio. Close to shopping & schools.

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: Marlborough Square

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Marlborough Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Springridge Elementary School Primary Regular 369 25 8
Springridge Elementary School Middle Regular 369 25 8
Berkner High School High Regular 2,494 174 4

Springridge Elementary School

  • Education Level: Primary
  • # of students: 369
  • # of teachers: 25
8
GreatSchools Rating

Springridge Elementary School

  • Education Level: Middle
  • # of students: 369
  • # of teachers: 25
8
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,177
Property Tax -$745
Property Insurance -$163
Property Management Fees -$99
CASH FLOW
-$103

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.

$319,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 13.2%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0803$2,2004$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1514 Stonecrest Drive Richardson, TX 2
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.89
    •  
  • 10144 Desert Willow Drive Dallas, TX 1
    • 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1979
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
  • 1307 E Spring Valley Road Richardson, TX 3
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1980
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 1601 E Spring Valley Road Richardson, TX 4
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1980
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1411 Potomac Drive Richardson, TX 5
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1978
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
PROPERTY LISTING DETAILS
Megan Oh
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475078
Last Updated: 11/28/2020
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