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2600 Elk Trail Plano, TX 75025

4 Beds 3 Baths 2,863 sqft Built 1991

$460,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $160.67
  • 4 Days on Market
  • MLS # : 14466614
  • Updated Date : 11/07/2020 at 19:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,863 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates

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
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,697
Property Tax -$783
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$401

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.

$460,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.52%

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-$5.0k$0.0$5.0k

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,441

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,3704$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2600 Elk Trail Plano, TX 3
    • 4 beds 3 baths ∙ 2,863 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,863 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.83
    •  
  • 2808 Barksdale Drive Plano, TX 1
    • 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1993
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.80
    •  
  • 2801 Montell Court Plano, TX 2
    • 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 1993
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 2601 Elk Trail Plano, TX 4
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1991
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 2512 Elk Trail Plano, TX 5
    • 4 beds 2 baths ∙ 2,697 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,697 Sqft ∙ Built 1991
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Aundrea Whalen
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466614
Last Updated: 11/07/2020
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