Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2564 Honeysuckle Drive Richardson, TX 75082

4 Beds 4 Baths 2,837 sqft Built 1988

$375,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $132.18
  • 2 Days on Market
  • MLS # : 14509690
  • Updated Date : 01/30/2021 at 23:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This Custom Built One Story Home is Perfect for your Family, Split Bedrooms, Gorgeous Kitchen with Granite and Breakfast Bar and Open to the Living. 2 Fireplaces for those cold winter nights. Walk to the Park with the kids, or just play in large backyard on this corner lot. Large Master retreat in the back of the house , oversized master bath with his and her vanities and dressing areas. 3 Full baths for the all the bedrooms and Half bath for your guest that also has access to the back patio. Come put your Special Touches on this Beautiful House to make it your own. Great Location close to park, schools, shopping and Food !

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: Springpark North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k392k

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

Neighborhood: Springpark North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262387

* 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
Mendenhall Elementary School Primary Regular 591 56 4
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Mendenhall Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 56
4
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

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

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,303
Property Tax -$693
Property Insurance -$191
Property Management Fees -$99
CASH FLOW
$14

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

$2,300

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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$1.4M

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$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,504

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2564 Honeysuckle Drive Richardson, TX 2
    • 4 beds 4 baths ∙ 2,837 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,837 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 2817 Newburyport Avenue Garland, TX 1
    • 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 2683 Clear Springs Court Richardson, TX 3
    • 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 1991
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 1816 Wyndcliff Drive Richardson, TX 4
    • 4 beds 2 baths ∙ 2,688 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,688 Sqft ∙ Built 1988
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 2700 Sherrill Park Drive Richardson, TX 5
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1979
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Beckye Evans
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 #: 14509690
Last Updated: 01/30/2021
BESbswy