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2500 Skipwith Drive Plano, TX 75023

4 Beds 3 Baths 2,814 sqft Built 1981

$369,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $131.45
  • 5 Days on Market
  • MLS # : 14512959
  • Updated Date : 02/26/2021 at 14:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,814 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautifully maintained CUSTOM ONE STORY on quiet tree-lined street in heart of Hunters Glen is available for the first time in 37 years and IT WON'T LAST LONG! Outstanding floorplan has open spaces filled with natural light, spacious rooms, split Owner's Suite and a hard-to-find THREE CAR GARAGE! High quality updates include beautiful ANDERSEN windows thru-out! Second Living Area overlooks BIG backyard and has beamed ceiling, built-in bookcases and perfect flex space: could be 5th BR, Home Office, Media Room! BIG walk-in closets+ beautiful built-ins thru-out: even the laundry room is HUGE with sink and room for extra refrigerator; there is no lack of storage! Walk to grades K-8, Jack Carter Park + Pool!

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
Carlisle Elementary School Primary Regular 529 38 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Carlisle Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 38
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
 

$332,910$406,890$369,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,285
Property Tax -$629
Property Insurance -$190
HOA -$4
Property Management Fees -$99
CASH FLOW
$143

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.

$369,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.64%

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$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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$29,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,343

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2953$2,3504$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 2500 Skipwith Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 2508 Rothland Lane Plano, TX 1
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1983
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 2313 Dampton Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1993
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 2305 Flanders Lane Plano, TX 4
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 1995
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 2504 Skipwith Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1982
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jennifer Daniel
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512959
Last Updated: 02/26/2021
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