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15258 Fountain Lane Frisco, TX 75035

4 Beds 5 Baths 4,113 sqft Built 2016

$750,000

List Price

$3,560

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $182.35
  • 3 Days on Market
  • MLS # : 14485582
  • Updated Date : 12/18/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,113 sqft
  • Baths : 3 full , 2 half
Listing Agent

Era Cornerstone Realty

Listing Agent's Description

Great opportunity to own an estate sized lot in the highly sought after Villages of Stonelake Estates subdivision. Almost a third acre. This is the home of a woodworker, with several custom built-ins cabinets, include an awesome Murphy bed in one of the upstairs bedrooms. The greenbelt walking trail starts just yards away from this home and all three levels schools are within walking distance, with the elementary school at the end of this street. Tons of storage with 3 decked attic areas and an outdoor covered storage area with electric, freeing up valuable garage space. There are very few of these large lots available in Frisco. Taxes are among the lowest in the metroplex and schools are among the best.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Villages of Stonelake

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k609k

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

Neighborhood: Villages of Stonelake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263706

* 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
Nelson Elementary School Primary Regular NA
Independence High School High Unknown 1,161 102 9
Norris Elementary School Primary Regular NA

Nelson Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating

Norris Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$2,767
Property Tax -$1,487
Property Insurance -$265
HOA -$50
Property Management Fees -$99
CASH FLOW
-$1,108

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.

$750,000

PROJECTED PRICE

$3,560

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$92

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,393

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2753$3,5004$3,5005$3,560
$3,560
RENT COMPS ANALYSIS
  • 15258 Fountain Lane Frisco, TX 5
    • 4 beds 5 baths ∙ 4,113 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,113 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $0.87
    •  
  • 10633 Kingsford Lane Frisco, TX 1
    • 5 beds 6 baths ∙ 4,130 Sqft ∙ Built 2015 5 beds 6 baths ∙ 4,130 Sqft ∙ Built 2015
    property image
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.77
    •  
  • 10835 Kingsford Lane Frisco, TX 2
    • 4 beds 3 baths ∙ 4,068 Sqft ∙ Built 2013 4 beds 3 baths ∙ 4,068 Sqft ∙ Built 2013
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $0.81
    •  
  • 10220 Ponzano Frisco, TX 3
    • 5 beds 4 baths ∙ 4,293 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,293 Sqft ∙ Built 2010
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.82
    •  
  • 10522 Millie Lane Frisco, TX 4
    • 5 beds 6 baths ∙ 3,874 Sqft ∙ Built 2014 5 beds 6 baths ∙ 3,874 Sqft ∙ Built 2014
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeremy French
Era Cornerstone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485582
Last Updated: 12/18/2020
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