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2404 Windgate Frisco, TX 75033

3 Beds 2 Baths 2,259 sqft Built 2000

$355,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.15
  • 3 Days on Market
  • MLS # : 14533651
  • Updated Date : 03/19/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,259 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

Sought after neighborhood, The Trails in West Frisco. Amazing corner lot that backs to the green space and walking trail. Enjoy the evening in the shaded backyard with freeform stone patio by the custom fireplace. Open floor plan with split bedroom arrangement. STUDY or OFFICE plus 3 bedrooms. Spacious kitchen with plenty of cabinets and countertops. Formal living and dining rooms provide great family gathering area or a place to escape. HOA includes multiple pools, tennis courts and playground. Schools within walking distance. You don't want to miss this opportunity!!

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: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Wilma Fisher Elementary School Primary Regular 663 40 10
Robert Cobb Middle School Middle Unknown NA
Justin Wakeland High School High Regular 2,220 140 9

Wilma Fisher Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 40
10
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,233
Property Tax -$625
Property Insurance -$158
HOA -$58
Property Management Fees -$99
CASH FLOW
$57

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.

$355,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,248

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2304$2,2955$2,295
$2,295
RENT COMPS ANALYSIS
  • 2404 Windgate Frisco, TX 3
    • 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.99
    •  
  • 9300 Homestead Lane Frisco, TX 1
    • 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1998
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 2404 Windgate Lane Frisco, TX 2
    • 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 2000
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 2450 Streamside Court Frisco, TX 4
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2001
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
  • 2301 Campfire Lane Frisco, TX 5
    • 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,259 Sqft ∙ Built 1999
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
PROPERTY LISTING DETAILS
Danielle Belair
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533651
Last Updated: 03/19/2021
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