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2704 Redfield Drive Plano, TX 75025

4 Beds 3 Baths 2,610 sqft Built 1990

INVESTimate

$419,900

List Price

$2,230

$2,007 - $2,453

Rent Est.

$445,052  ( +5.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $160.88
  • 6 Days on Market
  • MLS # : 14417881
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,610 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

PRISTINE is an understatement!Pride of ownership overflows in this MOVE IN READY CUSTOM-built one story in the heart of Plano!Outstanding floor plan is just the start: Hard to find 4 Bedrooms with 3- way split for privacy and THREE FULL BATHS!Updated kitchen with granite counter-tops and GAS cooking is open to the BIG Family Room with plenty of space for a sectional and all overlooking the beautifully REMODELED (and PRIVATE!) POOL...even the equipment was replaced!Artificial turf makes this backyard super low maintenance! The list of updates is long including roof replaced, AC replaced; hand scraped hardwood floors, beautiful custom built-ins, updated lighting, hardware. Just minutes from Shops of Legacy!HURRY!

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: 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
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,007$2,453$2,230

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,549
Property Tax -$714
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
-$311

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.

$419,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,2004$2,2305$2,295
$2,295
RENT COMPS ANALYSIS
  • 2704 Redfield Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.85
    •  
  • 7405 Ryan Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 2704 Powderhorn Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 2708 Redfield Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 2504 Roper Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1990
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jennifer Daniel
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417881
Last Updated: 08/22/2020
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