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2708 Cotton Court Plano, TX 75093

3 Beds 3 Baths 2,520 sqft Built 1992

$400,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $158.73
  • 3 Days on Market
  • MLS # : 14526907
  • Updated Date : 03/05/2021 at 15:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,520 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Welcome home! Cul-De-Sac home backing to greenbelt with walking trail behind. Walking in you'll see the curved staircase with Formal Dining to your right and Formal Living to your left. Kitchen and Breakfast Nook are Open to the second Living Room and Backyard - tons of natural light. Upstairs opens to a large Game Room separating the Master Suite from the Secondary Bedrooms. Your Plano home awaits you. Showings between 9am and 8pm.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Wentworth Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k741k

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

Neighborhood: Wentworth Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,389
Property Tax -$681
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$252

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.

$400,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$1,9954$2,0905$2,300
$2,300
RENT COMPS ANALYSIS
  • 2708 Cotton Court Plano, TX 4
    • 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.83
    •  
  • 4204 Twilight Trail Plano, TX 1
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1988
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 2708 Wickham Court Plano, TX 2
    • 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1992
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 2104 Florence Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 1980
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 4545 Fremont Lane Plano, TX 5
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1981
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Stephen Hargrove
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526907
Last Updated: 03/05/2021
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