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276 Moorland Drive Richardson, TX 75080

3 Beds 3 Baths 2,279 sqft Built 2017

$479,999

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $210.62
  • 2 Days on Market
  • MLS # : 14521806
  • Updated Date : 02/27/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,279 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max First Realty Iii

Listing Agent's Description

CORNER HOMESITE! 1 owner home. Beautiful 3 bedrms with 2.5 baths! Great room with high ceilings, SSound & cozy fireplace. Beautiful hardwood floors downstairs. Open kitchen with SS appliances, Gas c-top, Quartz countertops, pantry, & raised maple cabinets, lg island. Study with double doors. Hardwood stairs lead you to the Huge master suite & covered patio great for sunsets. Serene oversized shower in owner's bath, separate vanities & walk in closet. Other 2 bedrms have walk-in closets, hall bath, spacious laundry rm & linen closet. Custom closet in 2nd bedrm. Pergola covered side patio with landscaping & open to grassy area. Security system, low-E windows, radiant barrier decking, tankless gas water heater.

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: Richardson

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Richardson

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262872

* 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
Richardson North Junior High School Middle Regular 649 43 7
Pearce High School High Regular 2,253 144 6
Richardson North Junior High School Middle Unknown NA

Richardson North Junior High School

  • Education Level: Middle
  • # of students: 649
  • # of teachers: 43
7
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating

Richardson North Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$431,999$527,999$479,999

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,667
Property Tax -$1,121
Property Insurance -$159
HOA -$153
Property Management Fees -$99
CASH FLOW
-$309

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.

$479,999

PROJECTED PRICE

$2,890

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,000
Loan Amount $359,999
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $3,008

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9503$2,950
$2,950
RENT COMPS ANALYSIS
  • 276 Moorland Drive Richardson, TX 1
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.27
    •  
  • 2530 N Collins Boulevard Richardson, TX 2
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2018
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.33
    •  
  • 2480 Cathedral Drive Richardson, TX 3
    • 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2018
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.31
    •  
PROPERTY LISTING DETAILS
Laura Voigt
Re/max First Realty Iii
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521806
Last Updated: 02/27/2021
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