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2433 Balmoral Drive Plano, TX 75074

4 Beds 4 Baths 3,257 sqft Built 2013

INVESTimate

$545,000

List Price

$2,520

$2,270 - $2,770

Rent Est.

$596,721  ( +9.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $167.33
  • 6 Days on Market
  • MLS # : 14414658
  • Updated Date : 08/26/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,257 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Here is an incredible chance to own this gem in Plano. Beautifully built by Highland Homes and cared for by the first owners, this home includes rich wood flooring throughout the downstairs and splendid granite counters in the kitchen and baths. The master plus an additional bedroom and full bath down. Plan great movie nights in the media room or game night in the loft. Working from home? No problem with a dedicated space with French doors. Not only is this beautiful home something to see, the location can’t be beat. The secluded neighborhood is convenient to great Plano amenities and walking distance to a farm providing fresh milk! Nature trails, parks, water park are all close by. Don’t miss this one!

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

Zip Code: 75074

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Zip Code: 75074

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10232224

* 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
 

$490,500$599,500$545,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,011
Property Tax -$927
Property Insurance -$215
HOA -$55
Property Management Fees -$99
CASH FLOW
-$787

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.

$545,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$48

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,508

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,5204$2,5995$2,800
$2,800
RENT COMPS ANALYSIS
  • 2433 Balmoral Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,257 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.77
    •  
  • 2309 Shingle Lane Plano, TX 1
    • 3 beds 3 baths ∙ 2,991 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,991 Sqft ∙ Built 2005
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 1909 Brown Stone Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2014
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 6409 Truewick Court Plano, TX 4
    • 5 beds 3 baths ∙ 3,419 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,419 Sqft ∙ Built 2014
    LEASED 05/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.76
    •  
  • 2429 Balmoral Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2014
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Caralee Gurney
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414658
Last Updated: 08/26/2020
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