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1724 Snowmass Drive Plano, TX 75025

3 Beds 3 Baths 2,574 sqft Built 1988

$408,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $158.51
  • 4 Days on Market
  • MLS # : 14517295
  • Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Move-in ready and thoughtfully maintained home with comfortable living flow and backyard oasis in highly rated Hedgcoxe Elementary zone. Large living room with wood floors and fireplace and wall of windows overlooking backyard patio easily blends with kitchen and breakfast area. Spacious dining room plus versatile front room for fourth bedroom, home office, or extra living. All bedrooms upstairs with flexible landing area for games, TV, exercise, or work-learn from home. Spacious primary bedroom with updated bath and relaxing garden tub. Close to Hoblitzelle Park and walking trails. Enjoy upcoming summer nights in your pool and patio retreat. You will love it!

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: Park Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Park Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262318

* 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
Hedgcoxe Elementary School Primary Regular 410 32 9
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Hedgcoxe Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 32
9
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

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

$367,200$448,800$408,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,417
Property Tax -$694
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
-$66

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.

$408,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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-$5.0k$0.0$5.0k$10k

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$113,870

INVESTMENT

$113,870

Down Payment
$102,000
Rehab Estimate
$5,750
Closing Costs
$6,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,417

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,000
Loan Amount $306,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0993$2,1854$2,2505$2,320
$2,320
RENT COMPS ANALYSIS
  • 1724 Snowmass Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.90
    •  
  • 1725 Chester Drive Plano, TX 1
    • 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1997
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 7004 Childrens Way Plano, TX 2
    • 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2001
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.84
    •  
  • 7405 Angel Fire Drive Plano, TX 3
    • 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,574 Sqft ∙ Built 1988
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,185
    • $0.85
    •  
  • 7508 Crested Butte Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1988
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Dennis Coleman
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517295
Last Updated: 02/11/2021
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