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1726 Coralbead Road Frisco, TX 75033

4 Beds 4 Baths 3,473 sqft Built 2018

$629,500

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $181.26
  • 4 Days on Market
  • MLS # : 14532864
  • Updated Date : 03/20/2021 at 10:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,473 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

This two-story Britton home located in sought-after PGA neighboring community of Hollyhock! With plantation shutters, beautiful accented walls, 3 car garage and an offset study for added privacy, you'll find the charm from the moment you walk in. Hand-scraped, nail down hardwoods, open concept w tall vaulted living ceilings create an inviting place. The kitchen boasts comm grade 6-burner cooktop, double ovens, and quartz counters for a cooking enthusiast's entertainment dream! Upstairs is unique with a two bdrms and jack-n-jill hollywood style-each side has its own toilet! The HOA includes front yard maintenance, resort-style amenities, state-of-the-art fitness center, and year round events! *MULTIPLE OFFERS*

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

Zip Code: 75033

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k443k

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

Zip Code: 75033

ZipNIR 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
Newman Elementary School Primary Unknown NA
Trent Middle School Middle Unknown NA
Memorial High School High Regular NA

Newman Elementary School

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

Trent Middle School

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

Memorial High School

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

$566,550$692,450$629,500

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,186
Property Tax -$1,108
Property Insurance -$228
HOA -$175
Property Management Fees -$99
CASH FLOW
-$776

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.

$629,500

PROJECTED PRICE

$3,020

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,568

INVESTMENT

$172,568

Down Payment
$157,375
Rehab Estimate
$5,750
Closing Costs
$9,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,186

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,375
Loan Amount $472,125
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,499

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,020
1$3,0202$3,2003$3,3004$3,7005$3,950
$3,950
RENT COMPS ANALYSIS
  • 1726 Coralbead Road Frisco, TX 1
    • 4 beds 4 baths ∙ 3,473 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,473 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $0.87
    •  
  • 971 Yellowcress Drive Prosper, TX 2
    • 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 15648 Pleat Leaf Road Frisco, TX 3
    • 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2020
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.92
    •  
  • 4701 Crossvine Drive Prosper, TX 4
    • 4 beds 5 baths ∙ 3,480 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,480 Sqft ∙ Built 2015
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.06
    •  
  • 1830 Evening Star Road Frisco, TX 5
    • 4 beds 4 baths ∙ 3,652 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,652 Sqft ∙ Built 2016
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.08
    •  
PROPERTY LISTING DETAILS
Amanda Rupley
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532864
Last Updated: 03/20/2021
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