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2428 Clear Field Drive Plano, TX 75025

4 Beds 2 Baths 2,273 sqft Built 1998

$375,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $164.98
  • 3 Days on Market
  • MLS # : 14463518
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,273 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Built by Ashton Woods and located close to all shopping, dining, and entertaining Plano and Frisco have to offer. With geat curb appeal and easy access to 121, Dallas North tollway and hwy 75. This classic beauty features hardwood floors, plantation shutters and crown molding throughout! A spacious single story with tall ceilings and a versatile floorplan offering multiple living rooms and dining areas. The kitchen has Bosch appliances, an island and custom cabinets with a soft close feature! The master bedroom is secluded and has a beautiful bathroom with dual sinks, a large shower, separate tub, and a large walk-in closet. Three more good sized bedrooms with granite in the guest bathroom. Feeds to FriscoISD.

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: Fairways of Ridgeview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k389k

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

Neighborhood: Fairways of Ridgeview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262326

* 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
Naoma And M. Allen Anderson Elementary School Primary Regular 684 41 10
Billy Vandeventer Middle School Middle Unknown 1,034 69 NA
Liberty High School High Regular 2,039 137 9

Naoma And M. Allen Anderson Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 41
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students: 1,034
  • # of teachers: 69
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,384
Property Tax -$638
Property Insurance -$159
HOA -$33
Property Management Fees -$99
CASH FLOW
-$252

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.

$375,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0504$2,0605$2,075
$2,075
RENT COMPS ANALYSIS
  • 2428 Clear Field Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.91
    •  
  • 8800 Palacios Cove Plano, TX 1
    • 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1999
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 2409 Deer Horn Drive Plano, TX 2
    • 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1998
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 9013 Wornsaddle Lane Plano, TX 3
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
  • 9016 Roundbluff Road Plano, TX 5
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2001
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
PROPERTY LISTING DETAILS
Crystal Levan
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463518
Last Updated: 11/01/2020
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