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1812 Weanne Drive Richardson, TX 75082

4 Beds 4 Baths 3,856 sqft Built 1989

$435,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $112.81
  • 3 Days on Market
  • MLS # : 14487976
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,856 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

Must see home with golf course views from 8 of the 12 rooms. 1st floor has amazing 9 foot ceilings. This home has too many amenities to list but a few include: 8 walk-in closets, 11 ceiling fans, (2) 19-Seer AC units, skylights, gutters, energy efficient pool and spa with heater and pool sweep. The garage has a workbench and shelving units. Gate provides access to the golf course where you can feed geese and ducks. Sellers are moving to Florida for retirement. Make us an offer we can't refuse. More pictures Coming Soon! Note: there is no realtor sign in the yard.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Fairways of Sherrill Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k452k

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

Neighborhood: Fairways of Sherrill Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262715

* 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
Mendenhall Elementary School Primary Regular 591 56 4
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Mendenhall Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 56
4
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$1,605
Property Tax -$874
Property Insurance -$250
HOA -$38
Property Management Fees -$99
CASH FLOW
$213

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.

$435,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$43,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,988

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,080
$3,080
RENT COMPS ANALYSIS
  • 1812 Weanne Drive Richardson, TX 3
    • 4 beds 4 baths ∙ 3,856 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,856 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $0.80
    •  
  • 3117 Cedar Ridge Drive Richardson, TX 1
    • 5 beds 4 baths ∙ 4,133 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,133 Sqft ∙ Built 2001
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.71
    •  
  • 3109 Cedar Ridge Drive Richardson, TX 2
    • 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Courtney Lawless
Keller Williams Dfw Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487976
Last Updated: 12/18/2020
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