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15738 Durango Drive Frisco, TX 75035

3 Beds 3 Baths 2,574 sqft Built 2003

$350,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $135.98
  • 3 Days on Market
  • MLS # : 14527345
  • Updated Date : 03/05/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Beautiful, Well Maintained Home located in the desirable Frisco Heights Community. This 3 bed, 2 bath, 2 story home features over 2,500 sq ft of quality space. Home includes an open kitchen center island, a spacious family room with gas fireplace, plenty of windows for natural light. Huge backyard that you make into your own sanctuary! Solid Oak Wood Floors downstairs. Oversized game room that can be used as a 4th bedroom. Spacious On-suite with garden tub, separate shower & walk-in closet. New roof, carpet and water heater installed in 2019. Enjoy the community pool and playground. Walking distance to the park, restaurants and grocery store. Highly sought after Frisco ISD School District.

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: Frisco Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Frisco Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Gerald Sonntag Elementary School Primary Regular 688 43 NA
Heritage High School High Regular 1,844 125 9
Nelson Elementary School Primary Regular NA

Gerald Sonntag Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 43
NA
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,844
  • # of teachers: 125
9
GreatSchools Rating

Nelson Elementary School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,216
Property Tax -$595
Property Insurance -$176
HOA -$33
Property Management Fees -$99
CASH FLOW
-$29

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.

$350,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,0904$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 15738 Durango Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.81
    •  
  • 15783 Ducote Drive Frisco, TX 1
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2003
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 15403 Bull Run Drive Frisco, TX 2
    • 4 beds 2 baths ∙ 2,409 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,409 Sqft ∙ Built 2005
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 15463 Palo Pinto Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2006
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 12355 Colorado Drive Frisco, TX 5
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Sean Jones
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527345
Last Updated: 03/05/2021
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