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2307 Buttercup Richardson, TX 75082

3 Beds 2 Baths 2,502 sqft Built 1988

INVESTimate

$290,000

List Price

$2,090

$1,881 - $2,299

Rent Est.

$317,695  ( +9.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $115.91
  • 7 Days on Market
  • MLS # : 14415284
  • Updated Date : 08/21/2020 at 14:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,502 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Multiple offers. Please submit best and final by 7pm on Sunday, August 23rd. Enjoy easy living in a fantastic neighborhood - situated on a beautiful corner lot, this charming brick home will steal your heart. Make this diamond in the rough sparkle again. One story with comfortable floor plan, great space, and amazing storage. Two living rooms, two dining rooms. Private master retreat allows for you to create the master bathroom of your dreams! 3 spacious bedrooms, custom touches, a lovely bright sun room that would be great for crafts, reading, or playing. Dream BIG and make it your own! This home is truly special.

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

Neighborhood: Springpark North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k392k

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

Neighborhood: Springpark North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262387

* 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $2,090
EXPENSES Loan Payment -$1,070
Property Tax -$580
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$169

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.

$290,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1003$2,2004$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 2307 Buttercup Richardson, TX 1
    • 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.84
    •  
  • 2506 Bluebonnet Drive Richardson, TX 2
    • 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 1985
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 2501 Primrose Drive Richardson, TX 3
    • 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 1983
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 2202 Bluebonnet Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1985
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 3105 Wren Lane Richardson, TX 5
    • 3 beds 2 baths ∙ 2,611 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,611 Sqft ∙ Built 1989
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Fabiola Castillo
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415284
Last Updated: 08/21/2020
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