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2429 Trophy Drive Plano, TX 75025

5 Beds 4 Baths 3,127 sqft Built 1990

$450,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $143.91
  • 5 Days on Market
  • MLS # : 14462212
  • Updated Date : 10/31/2020 at 09:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,127 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

~Timeless Treasure~ Discover warmth, character & charm in this truly special home perched on a ¼ acre lot w pool & spa! Delightful drive-up to lovely landscaping, winding pebble walk-up to towering 2-story entry. Great floors, c-moldings & thoughtful style & grace abound! Bay windows, 2 f-places, gas range, Brkfst Bar, granite & quartz tops, 42” cbnts w c-molding, dble ovens, SS applcs, tub, sep shower, dual sinks & closets, Flex Rm (5th BR or Game RM or Office), O-sized Utility w sink, covered patio, pool & spa! 2 side yards w extended fronts, BOB fence w brick pillars & MORE! Walk to Bethany Elementary & minutes to 121, 75, DNT, & 1st class shopping, restaurants & entertainment! Stop Looking & Start Packing!!

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: Hunters Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k373k

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

Neighborhood: Hunters Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262323

* 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
Bethany Elementary School Primary Regular 384 31 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Bethany Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 31
8
GreatSchools Rating

Schimelpfenig Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 53
9
GreatSchools Rating

Plano Senior High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,660
Property Tax -$766
Property Insurance -$208
HOA -$4
Property Management Fees -$99
CASH FLOW
-$247

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.

$450,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,697

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4903$2,7004$2,7955$2,820
$2,820
RENT COMPS ANALYSIS
  • 2429 Trophy Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,127 Sqft ∙ Built 1990 5 beds 4 baths ∙ 3,127 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.80
    •  
  • 3100 Spring Grove Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1998
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 1924 Brabant Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,099 Sqft ∙ Built 1988 4 beds 4 baths ∙ 3,099 Sqft ∙ Built 1988
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 7509 Avalon Drive Plano, TX 4
    • 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 1993
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.92
    •  
  • 7321 Avalon Drive Plano, TX 5
    • 4 beds 3 baths ∙ 3,238 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,238 Sqft ∙ Built 1996
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $0.87
    •  
PROPERTY LISTING DETAILS
Trent Yonkers
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462212
Last Updated: 10/31/2020
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