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2313 Piedra Drive Plano, TX 75023

4 Beds 3 Baths 2,845 sqft Built 1983

$400,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $140.60
  • 11 Days on Market
  • MLS # : 14459650
  • Updated Date : 11/01/2020 at 15:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,845 sqft
  • Baths : 3 full
Listing Agent

Acquisto Real Estate

Listing Agent's Description

Awesome One Story 4 bed, 3 bath home on over a third-acre lot. Great open floorplan with vaulted ceilings and large stone fireplace in the family room. You'll love the layout with a large master bedroom retreat with a sitting area and fireplace. The updated master bathroom has a huge relaxing tub and a separate shower. Two bedrooms connect with a jack and jill bathroom. The fourth bedroom on the other side of the house has a full bathroom that is great for guests or family. Whole house RainSoft water filtration system. So much opportunity in the oversized yard with large canopy trees and deck.

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: West Plano Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: West Plano Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262277

* 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
Hughston Elementary School Primary Regular 381 30 7
Haggard Middle School Middle Regular 860 53 7
Plano Senior High School High Regular 2,766 155 9

Hughston Elementary School

  • Education Level: Primary
  • # of students: 381
  • # of teachers: 30
7
GreatSchools Rating

Haggard Middle School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 53
7
GreatSchools Rating

Plano Senior High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,476
Property Tax -$681
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$187

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.

$400,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,440

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,3003$2,3954$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2313 Piedra Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.79
    •  
  • 2508 Brown Deer Trail Plano, TX 2
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1982
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 2800 Loch Haven Drive Plano, TX 3
    • 3 beds 3 baths ∙ 2,961 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,961 Sqft ∙ Built 1979
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.81
    •  
  • 2504 Skipwith Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1982
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 2129 Argyle Drive Plano, TX 5
    • 4 beds 4 baths ∙ 2,880 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,880 Sqft ∙ Built 1992
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Mike Shepherd
Acquisto Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459650
Last Updated: 11/01/2020
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