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2509 Nighthawk Drive Plano, TX 75025

4 Beds 3 Baths 2,646 sqft Built 1988

$440,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $166.29
  • 2 Days on Market
  • MLS # : 14475514
  • Updated Date : 11/21/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,646 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Central

Listing Agent's Description

WOW!!! Gorgeous 4-bdr home located in the highly sought-after Hunter Glen Estates on a beautiful treed lot with pool and spa, space to play & to entertain. This elegant home features an open split floor plan that allows for a large master bedroom suite, mother-in-law suite area, 2 living areas, 2 dinings & a double-sided fireplace. The updated kitchen has beautiful white cabinets, granite countertops, & double ovens. The Livingroom has a stunning view of the chandeliers, cover patio &, sparkling blue pool water. This home is located walking district of a park, close to shopping & highways. The energy efficiency features include 16 seer AC Radiant Barrier, solar screens & double windows panes. A must-see.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,623
Property Tax -$749
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
-$421

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.

$440,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.51%

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-$10k-$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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,229

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1953$2,2004$2,2305$2,300
$2,300
RENT COMPS ANALYSIS
  • 2509 Nighthawk Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $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
    •  
  • 2208 Chasefield Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1991
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 2704 Powderhorn Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 2508 Brown Deer Trail Plano, TX 5
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1982
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lisa Vargas
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475514
Last Updated: 11/21/2020
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