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2113 Leon Drive Plano, TX 75074

4 Beds 3 Baths 3,311 sqft Built 1981

$550,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $166.11
  • 2 Days on Market
  • MLS # : 14503063
  • Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,311 sqft
  • Baths : 3 full
Listing Agent

Skyline Realty

Listing Agent's Description

Stunning FULLY remodeled gem with sleek interiors in Los Rios golf course community.You will appreciate the touches of quality!Grand liv area with high ceilings,stone firepl,overlooking sparkling pool.Lots of windows allowing soft natural light.Kitchen,mast bath are showstoppers.Kitch has all the bells&whistles:loads of custom-made cabinets,highend ss appliances and party lights!Luxurious mast bath has stand-up shower,jetted tub,beautiful vanity.Oversized mast suite with sliding doors leading to the private deck.Granite c-tops,new flooring,energy effic windows,cabinets,fresh paint throughout.Whole list in the transact desk.Sits on AC lot,backing up greenbelt,gives privacy.By Bob Woodruff Park,Trails,dog park

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: Los Rios

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Los Rios

NeighborhoodNIR 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
Dooley Elementary School Primary Regular 401 35 6
Armstrong Middle School Middle Regular 681 55 5
Mcmillen High School High Regular 1,088 70 8

Dooley Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 35
6
GreatSchools Rating

Armstrong Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 55
5
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,910
Property Tax -$936
Property Insurance -$219
Property Management Fees -$99
CASH FLOW
-$974

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.

$550,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,458

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,3003$2,3954$2,4005$2,695
$2,695
RENT COMPS ANALYSIS
  • 2113 Leon Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,311 Sqft ∙ Built 1981 4 beds 3 baths ∙ 3,311 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.66
    •  
  • 2229 Molly Lane Plano, TX 2
    • 4 beds 3 baths ∙ 2,986 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,986 Sqft ∙ Built 1994
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 3604 Kite Landing Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 1999
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.74
    •  
  • 4213 Karen Court Plano, TX 4
    • 5 beds 4 baths ∙ 3,382 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,382 Sqft ∙ Built 1991
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.71
    •  
  • 3604 Smoothstone Drive Plano, TX 5
    • 5 beds 3 baths ∙ 3,615 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,615 Sqft ∙ Built 2001
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.75
    •  
PROPERTY LISTING DETAILS
Alisa Chakheeva
Skyline Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503063
Last Updated: 01/23/2021
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