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2701 Enid Drive Plano, TX 75093

4 Beds 4 Baths 3,596 sqft Built 2005

INVESTimate

$599,000

List Price

$3,720

$3,470 - $3,970

Rent Est.

$635,299  ( +6.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $166.57
  • 4 Days on Market
  • MLS # : 14418785
  • Updated Date : 08/25/2020 at 14:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,596 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sync Real Estate

Listing Agent's Description

Nestled on a corner, interior lot in highly desirable Preston Lakes Subdivision, sits this stunning Toll Brothers home with backyard oasis. Center hall plan with vaulted ceilings, hand scraped hardwood floors & ample windows brings in natural light. Open concept kitchen,breakfast,& living combination offers a modern lifestyle. Chef's kitchen boasts granite counters & large island. Downstairs master suite has jetted tub & his&hers closets. Large upstairs game room features wet bar, built-in cabinets,& balcony. Great storage & nooks abound. Backyard retreat offers pool,spa,& covered patio with fireplace. Community pool, 2 playgrounds, walking trail, & Clubhouse. Live, work, play &entertain in this fabulous home.

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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: Preston Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $123k921k

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

Neighborhood: Preston Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11263847

* 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
Hightower Elementary School Primary Regular 549 39 9
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Hightower Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 39
9
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$2,210
Property Tax -$1,019
Property Insurance -$235
HOA -$127
Property Management Fees -$99
CASH FLOW
$30

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.

$599,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.06%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$35,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,713

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6503$3,7204$3,7955$3,800
$3,800
RENT COMPS ANALYSIS
  • 2701 Enid Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,596 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,596 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $1.03
    •  
  • 4409 Oak Knoll Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1994
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 4825 Stranz Lane Plano, TX 2
    • 3 beds 4 baths ∙ 3,538 Sqft ∙ Built 2006 3 beds 4 baths ∙ 3,538 Sqft ∙ Built 2006
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.03
    •  
  • 2720 Deansbrook Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,532 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,532 Sqft ∙ Built 2016
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.07
    •  
  • 4808 Lofty Lane Plano, TX 5
    • 4 beds 4 baths ∙ 3,775 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,775 Sqft ∙ Built 2007
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kari Bernstein
Sync Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418785
Last Updated: 08/25/2020
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