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2609 Kelsey Court Plano, TX 75075

4 Beds 2 Baths 2,265 sqft Built 1983

$384,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $169.93
  • 5 Days on Market
  • MLS # : 14463109
  • Updated Date : 11/01/2020 at 10:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,265 sqft
  • Baths : 2 full
Listing Agent

Solutions Real Estate Texas

Listing Agent's Description

Multi offer deadline Monday 2nd 5:00 PM. Simply an amazing transformation, and a masterful finish on this private cul de sac lot! Taken down to sheet rock and brought back with authority! New gourmet kitchen with shaker cabs, quartz counters, appliances, designer backsplash, LVT flooring, hardware, and lighting. Enjoy your master suite with reimagined master bath with walk in shower, dual closets, and private throne room. Flexible floorplan as a four bedroom, plus den, study, bedroom with door to patio. Enjoy your main living warm brick wood burning fireplace, and wine bar with fridge. Relax on the patio and entertain your friends at the next BBQ. Paint in and out, all new doors, trim, hardware, and new fence!

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: Ranger

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Ranger

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10532224

* 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
Shepard Elementary School Primary Regular 441 35 7
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Shepard Elementary School

  • Education Level: Primary
  • # of students: 441
  • # of teachers: 35
7
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 62
6
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,420
Property Tax -$655
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$352

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.

$384,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,157

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9803$2,0504$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 2609 Kelsey Court Plano, TX 2
    • 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.87
    •  
  • 2408 Skiles Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1972
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 2400 Kelsey Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1973
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 2305 Grandview Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 1969
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 2600 Northcrest Drive Plano, TX 5
    • 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 1995
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jason Brown
Solutions Real Estate Texas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463109
Last Updated: 11/01/2020
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