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1809 Lafayette Drive Plano, TX 75075

3 Beds 2 Baths 2,155 sqft Built 1990

$365,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $169.37
  • 2 Days on Market
  • MLS # : 14534604
  • Updated Date : 03/20/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,155 sqft
  • Baths : 2 full
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

Light, bright and all updated! Remodeled everything in 2018 from all new kitchen with granite, new appliances, all new lighting throughout, all new chrome hardware throughout, paint, granite in bathrooms, new laminate, new tile, new carpet in bedrooms, new water heater, new HVAC and so much more! Tons of windows for natural light, high ceilings, bright designer paint colors throughout, split master in front with large bath and walk in closet, breakfast area has walk out to patio area, exposed brick in kitchen and living area gives a rustic yet warm pottery barn feel. Buyers will love the second they pull up! Showings to begin Saturday March 20th.

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: Park Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: Park Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10972224

* 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
Shepard Elementary School Primary Regular 441 35 7
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Shepard Elementary School

  • Education Level: Primary
  • # of students: 441
  • # of teachers: 35
7
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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,268
Property Tax -$621
Property Insurance -$152
HOA -$32
Property Management Fees -$99
CASH FLOW
-$191

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,026

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,9804$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 1809 Lafayette Drive Plano, TX 3
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.92
    •  
  • 2301 Claridge Circle Plano, TX 1
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1976
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1928 Keystone Drive Plano, TX 2
    • 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
    •  
  • 1700 Cloister Way Plano, TX 4
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 1972
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 1517 Aylesbury Lane Plano, TX 5
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1983
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
Greyson Johns
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534604
Last Updated: 03/20/2021
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