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15914 Twin Cove Drive Frisco, TX 75035

4 Beds 4 Baths 3,012 sqft Built 2001

INVESTimate

$405,000

List Price

$2,780

$2,530 - $3,030

Rent Est.

$424,319  ( +4.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $134.46
  • 8 Days on Market
  • MLS # : 14413895
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,012 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

Wonderful, corner lot home with welcoming, cozy front porch, leading inside to a light & bright entry with soaring foyer ceilings and crown molding. Warm and inviting wood floors in common areas downstairs. 3 large living areas, formal dining and eat-in spacious kitchen provides plenty of room for entertaining or family fun. Comfortable study serves those working from home. Enormous kitchen island makes meal prep a breeze with 42' cabinets. Home has 2 YO energy efficient windows, tankless HWH, 2019 roof, lifetime warranty leafguard gutters, large extended patio with B on B cedar fence. With the low maintenance turf backyard you will have more time to enjoy your home and the gorgeous neighborhood attractions!

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: Hunters Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Hunters Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Bert And Eloise Isbell Elementary School Primary Regular 687 38 10
Billy Vandeventer Middle School Middle Unknown 1,034 69 NA
Liberty High School High Regular 2,039 137 9

Bert And Eloise Isbell Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 38
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students: 1,034
  • # of teachers: 69
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,494
Property Tax -$805
Property Insurance -$201
HOA -$60
Property Management Fees -$99
CASH FLOW
$120

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.

$405,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$31,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,952

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$2,9003$2,9404$2,9955$2,995
$2,995
RENT COMPS ANALYSIS
  • 15914 Twin Cove Drive Frisco, TX 1
    • 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.92
    •  
  • 6804 Royal View Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.00
    •  
  • 6365 Shadywood Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 3,192 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,192 Sqft ∙ Built 2002
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.92
    •  
  • 6808 Royal View Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,024 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,024 Sqft ∙ Built 2016
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.99
    •  
  • 6908 Royal View Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2016
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kathy Spillyards
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413895
Last Updated: 08/20/2020
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