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2650 Provencial Lane Richardson, TX 75080

3 Beds 3 Baths 2,717 sqft Built 2008

$599,950

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $220.81
  • 3 Days on Market
  • MLS # : 14484947
  • Updated Date : 12/17/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,717 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

FABULOUS GATED home in II Creeks INCLUDING the lovely landscaped LOT! This gorgeous home offers the perfect floor plan w~an open concept 1st floor kitchen w~all stainless steel appliances, living & dining with rich wood floors, all right off the entry. The windows throughout are perfectly accented by plantation shutters showcasing the lush landscaping & plenty of natural light. Tucked away in the back, you will find the elegant master suite w~ attached ensuite offering a spacious glass shower, separate jacuzzi tub & large walk-in closet. On the 2nd floor you will find an oversized game room w~wet bar, office, plenty of storage along w~2 bedrooms & full bath. In the heart of Richardson close to dining & shops!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Canyon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k467k

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

Neighborhood: Canyon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262391

* 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
Aldridge Elementary School Primary Regular 508 35 7
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Aldridge Elementary School

  • Education Level: Primary
  • # of students: 508
  • # 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
 

$539,955$659,945$599,950

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,214
Property Tax -$1,109
Property Insurance -$184
HOA -$232
Property Management Fees -$99
CASH FLOW
-$638

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.

$599,950

PROJECTED PRICE

$3,200

PROJECTED RENT

0.53%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,737

INVESTMENT

$164,737

Down Payment
$149,988
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,988
Loan Amount $449,963
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $3,254

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$2,9983$3,1954$3,2005$3,390
$3,390
RENT COMPS ANALYSIS
  • 2650 Provencial Lane Richardson, TX 4
    • 3 beds 3 baths ∙ 2,717 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,717 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.18
    •  
  • 17676 Bottlebrush Drive Dallas, TX 1
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2020
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.20
    •  
  • 17612 Bottlebrush Drive Dallas, TX 2
    • 4 beds 4 baths ∙ 2,543 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,543 Sqft ∙ Built 2020
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,998
    • $1.18
    •  
  • 2443 Cathedral Drive Richardson, TX 3
    • 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2017
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.24
    •  
  • 17684 Bottlebrush Drive Dallas, TX 5
    • 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2019
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.17
    •  
PROPERTY LISTING DETAILS
Tom Grisak
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484947
Last Updated: 12/17/2020
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