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18155 Frankford Lakes Circle Dallas, TX 75252

3 Beds 3 Baths 2,256 sqft Built 2003

$449,900

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $199.42
  • 4 Days on Market
  • MLS # : 14535059
  • Updated Date : 03/18/2021 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,256 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Updated 3-story home is located in exclusive Frankford Lakes gated community on coveted & premium lot with lakeside location.Wood flrs, updated pendant lighting in Kitchen with granite counters, breakfast bar, marble backsplash & white cabinetry. Well-equipped Kitchen offers SS farm sink, gas range, refrig, WI pantry. Gorgeous light fixtures. Living Rm accented with custom-designed wall, gas FP with wood mantle & lake view. Expansive patio is perfect spot for entertaining, relaxing, or dining al-fresco while watching the ducks swim close-by. Balcony in huge Master BR overlooks lake. Great Master Bath, custom Master closet. Lge bedrooms share Jack-n-Jill Full Bathrm. Bonus loft can be study, office, or media rm.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Haggar Elementary School Primary Regular 614 43 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Haggar Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 43
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,563
Property Tax -$889
Property Insurance -$158
HOA -$175
Property Management Fees -$99
CASH FLOW
-$503

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.

$449,900

PROJECTED PRICE

$2,380

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,493

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,3803$2,4254$2,4955$3,000
$3,000
RENT COMPS ANALYSIS
  • 18155 Frankford Lakes Circle Dallas, TX 2
    • 3 beds 3 baths ∙ 2,256 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,256 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.05
    •  
  • 6060 Thursby Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994
    property image
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.07
    •  
  • 18516 Shelton Way Dallas, TX 3
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1992
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $1.03
    •  
  • 18504 Shelton Way Dallas, TX 4
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1992
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.09
    •  
  • 18211 Frankford Lakes Circle Dallas, TX 5
    • 3 beds 3 baths ∙ 2,441 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,441 Sqft ∙ Built 2014
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
PROPERTY LISTING DETAILS
Jan Richey
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535059
Last Updated: 03/18/2021
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