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1900 Polstar Drive Plano, TX 75093

3 Beds 3 Baths 2,940 sqft Built 1983

INVESTimate

$350,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$371,210  ( +6.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $119.05
  • 5 Days on Market
  • MLS # : 14418401
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,940 sqft
  • Baths : 3 full
Listing Agent

Mersal Realty

Listing Agent's Description

Great corner lot in a wonderful neighborhood. Walking distance to Medical City Plano, churches and Chabad of Plano. New Electric Cook-top, new faucets in all bathrooms, paint all rooms. KichtenAid Double Oven, KechtenAid Dishwasher. Two AOS Smith water heaters. Plenty of living space and 3 extra storage rooms upstairs Beautiful Patio in the east side of house for your afternoon coffee. This house won't be long in the market!

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

Zip Code: 75093

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k786k

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

Zip Code: 75093

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263338

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,291
Property Tax -$596
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
$117

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.

$350,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.06%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$31,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,587

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,4504$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 1900 Polstar Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,940 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,940 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 1313 Watersedge Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1983
    property image
    LEASED 03/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 4112 Hideaway Lane Plano, TX 3
    • 4 beds 3 baths ∙ 2,790 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,790 Sqft ∙ Built 1981
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 2804 Browning Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,005 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,005 Sqft ∙ Built 1997
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 4213 Warminster Drive Plano, TX 5
    • 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1996
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Michael Zhang
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418401
Last Updated: 08/22/2020
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