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1516 Valencia Drive Plano, TX 75074

3 Beds 2 Baths 1,484 sqft Built 1985

$267,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $179.92
  • 2 Days on Market
  • MLS # : 14490371
  • Updated Date : 01/16/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full
Listing Agent

Chateau Realty

Listing Agent's Description

Open house, Sat, Jan 16, 1-3pm This will be the only showing time to view this property. We will take offers through Sunday at Noon. This immaculate one-story has had almost everything updated. It's nestled under mature trees and has a bright and open floor plan. The over-sized living room features high ceilings, gas fireplace and a wall of windows overlooking the back yard. Kitchen has new tile floors, granite counters and cabinets. House has been painted and popcorn ceiling removed. Master bath has new tile floors, shower, and double vanities. Back yard is spacious with room for your ideas and potential future pool. Plano ISD schools, easy access to Pres George Bush and 75 expressways! & Dog Park close by!

SEE MORE

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: La Paz Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: La Paz Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10152224

* 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
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$927
Property Tax -$454
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$96

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.

$267,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$927

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6904$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1516 Valencia Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.14
    •  
  • 3713 Glover Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1984
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 1612 Valencia Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1985
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
  • 3913 Picato Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1984
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 1600 Vera Cruz Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1984
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
PROPERTY LISTING DETAILS
Daisy Greek
Chateau Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490371
Last Updated: 01/16/2021
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