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2670 Primrose Drive Richardson, TX 75082

4 Beds 3 Baths 2,682 sqft Built 1987

$395,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $147.28
  • 3 Days on Market
  • MLS # : 14469964
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,682 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Adorable, large single story 4 bedroom, 2.1 bath home with pool in sought after Springpark North Addition. This home is immaculate and move-in ready. Extra spacious, open concept family room. Adjacent air-conditioned sunroom allows you to enjoy evenings with a view of the pool with spa and beautifully landscaped back yard. Light and bright with lots of windows and high ceilings. A feeling of space in all rooms. Dedicated TV room set up for fun times with media. Granite kitchen countertops and updated SS appliances. Over-size garage. Updated Roof-2018, HVAC-2018, Pool equipment-2018 and 2020. Plano ISD. Convenient to shopping, schools, park, and commutes. This is the one you have been waiting for. Come and see.

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,457
Property Tax -$730
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
-$259

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.

$395,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.56%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,2503$2,3004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 2670 Primrose Drive Richardson, TX 1
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.82
    •  
  • 2306 Silver Holly Lane Richardson, TX 2
    • 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 1980
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 2681 Clear Springs Court Richardson, TX 3
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 1989
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 2817 Newburyport Avenue Garland, TX 4
    • 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 2683 Clear Springs Court Richardson, TX 5
    • 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 1991
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michael D Pray
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469964
Last Updated: 11/13/2020
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