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2464 Cimmaron Drive Plano, TX 75025

4 Beds 3 Baths 2,849 sqft Built 2000

$375,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $131.63
  • 3 Days on Market
  • MLS # : 14480056
  • Updated Date : 12/04/2020 at 17:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,849 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

Enter this gorgeous, refreshed home located in sought after PISD. You are welcomed with a soaring 2 story foyer, formal living and dining area. Highlights are walls of windows, well designed floorplan and beautifully updated kitchen featuring Quartz countertops, gas range and coffee bar. Family room is anchored by over-sized fireplace and adjacent to the kitchen and breakfast room. Second floor includes giant game room, 3 addt'l bedrooms and Owner's retreat complete with sitting area, fireplace and spa-like bathroom for ultimate relaxation. Backyard patio and pergola make an ideal space for outdoor dining and entertaining. Interior and exterior paint, Carpet, kitchen countertops, cabinets painted Dec. 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Knolls at Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Knolls at Russell Creek

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
Andrews Elementary School Primary Regular 699 47 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Andrews Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 47
10
GreatSchools Rating

Rice Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 66
10
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

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

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,384
Property Tax -$651
Property Insurance -$192
HOA -$26
Property Management Fees -$99
CASH FLOW
-$71

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

$2,280

PROJECTED RENT

0.61%

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-$5.0k$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$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 60% 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

3.67

YEARS SAVED

$15,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2803$2,2954$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 2464 Cimmaron Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.80
    •  
  • 2329 Hunters Run Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,830 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,830 Sqft ∙ Built 2000
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 2421 Brycewood Lane Plano, TX 3
    • 5 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 2404 Cimmaron Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 2429 Ravenhurst Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 1998
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mollie Hancock
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480056
Last Updated: 12/04/2020
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