Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1600 Geneva Lane Plano, TX 75075

3 Beds 2 Baths 2,023 sqft Built 1981

$375,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $185.37
  • 4 Days on Market
  • MLS # : 14470277
  • Updated Date : 11/14/2020 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

MULTIPLE offers - highest and best by Sunday 11-15 at 7 pm. 125K in upgrades would make Joanna Gaines proud! Stunning & extensive updates include wood flooring, open concept U can only find in new homes, huge quartzite island, quartzite countertops, commerical gas cooktop, pot filler, drawer dishwasher, soft close cabinets, stunning wood ceiling beams in fm rm & kitchen, cozy Fireplace features subway tile surround & cool wood storage nitch, updtd bathrms R not left out with new cabinets, plumbing, lighting, master has hexagon tile WIN shower with glass barn door! Bring your picky buyers, they will NOT be disappointed. Outside has huge trees in front-back yd. All within min to 75-190. HURRY!

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: Pitman Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Pitman Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Sigler Elementary School Primary Regular 452 43 5
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Sigler Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 43
5
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 62
6
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,384
Property Tax -$638
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$405

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.

$375,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8604$1,8755$2,200
$2,200
RENT COMPS ANALYSIS
  • 1600 Geneva Lane Plano, TX 3
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 1529 Geneva Lane Plano, TX 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1983
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 1121 Drexel Drive Plano, TX 2
    • 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1962
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 1928 Keystone Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 1986
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.93
    •  
  • 1525 Tawakoni Lane Plano, TX 5
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1986
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
PROPERTY LISTING DETAILS
Stephen Trosclair
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470277
Last Updated: 11/14/2020
BESbswy