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1905 Harrington Drive Plano, TX 75075

4 Beds 4 Baths 3,217 sqft Built 2014

$539,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $167.55
  • 2 Days on Market
  • MLS # : 14475537
  • Updated Date : 11/21/2020 at 18:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,217 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mersal Realty

Listing Agent's Description

Stunning Newer Landon home with Stucco Exterior and Tile Roofing in Desirable West Park in Plano ISD! It boasts Open Living Spaces, Soaring Ceilings, Spiral Staircase, Three-Car Tandem, Covered Patio, Wood Flooring. Well appointed Kitchen w Quartz Counters, Subway Tile Backsplash, Gas Cooktop and Center Island & Breakfast Area open into Expansive Living area w Gas Stone Fireplace & Wall of Windows overlooking nice Backyard. Large Master Suite downstairs w Tray Ceiling, Bay Window, Tub and Separate Shower with Bench Seat. Huge living up perfect for kid retreat or Theater. Large three bedrooms up and one bedroom w own bath. Spectacular Resort style HOA Pool & Playground. Great location, convenient to PGBT & 75!

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: 75075

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Zip Code: 75075

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Harrington Elementary School Primary Regular 427 37 10
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Harrington Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 37
10
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$1,989
Property Tax -$947
Property Insurance -$213
HOA -$100
Property Management Fees -$99
CASH FLOW
-$498

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.

$539,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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-$10k-$5.0k$0.0$5.0k

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$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,134

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,1003$2,3504$2,850
$2,850
RENT COMPS ANALYSIS
  • 1905 Harrington Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,217 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,217 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.89
    •  
  • 820 Edmonton Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1994
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.64
    •  
  • 2133 Argyle Drive Plano, TX 2
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 1997
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 2524 Millstream Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,433 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,433 Sqft ∙ Built 1996
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.68
    •  
PROPERTY LISTING DETAILS
Emily Ji
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475537
Last Updated: 11/21/2020
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