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2401 Maverick Drive Plano, TX 75074

4 Beds 2 Baths 1,921 sqft Built 1985

$299,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $156.12
  • 3 Days on Market
  • MLS # : 14465463
  • Updated Date : 11/14/2020 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,921 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

A perfect 10! Exceptionally well maintained home located on manicured corner lot. Fabulous entry leads past dining area into expansive living area with brick fireplace, wet bar, updated lighting, vaulted ceilings, laminate flooring and jaw dropping views of the amazing back yard paradise showcasing 40k gal pool with spa and water features and board on board fence for added privacy! Spacious kitchen with tons of cabinets, eat in breakfast nook and breakfast bar. Owner suite with backyard access and recessed ceilings leads to en suite bathroom with dual vanities, expansive closet, relaxing tub and freestanding shower. HVAC replaced 2020. Additional 13x7 storage shed. No popcorn ceilings and no carpet!

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: Santa Fe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: Santa Fe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10182224

* 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
Hickey Elementary School Primary Regular 567 45 6
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Hickey Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 45
6
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,107
Property Tax -$549
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$92

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,6954$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2401 Maverick Drive Plano, TX 5
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 2204 Seminole Court Plano, TX 1
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1986
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 2409 Laurel Lane Plano, TX 2
    • 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 1978
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 2620 Charter Oak Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1978
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 2425 Maverick Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1982
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Bryan Davis
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465463
Last Updated: 11/14/2020
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