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279 Moorland Drive Richardson, TX 75080

4 Beds 3 Baths 2,241 sqft Built 2017

$474,300

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $211.65
  • 3 Days on Market
  • MLS # : 14496311
  • Updated Date : 01/08/2021 at 17:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,241 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kanam Realty Group

Listing Agent's Description

Welcome to an immaculate 4 bedroom house that has lots of upgrades! This 2017 built spacious home welcomes you to a soaring 21 ft ceiling in the living room with ample natural light. This home also has a modern kitchen with granite countertops, stainless steel appliances, a large walk-in pantry and beautiful backsplash. Second floor boasts an extra large bedroom in addition to an open office space perfectly suited to work from home. Enjoy watching magnificent sunsets from the 2nd floor balcony. Relax on the patio with a pergola and a gas connection, ideal for outdoor lounging and entertaining. You do not want to miss this interior corner lot nestled in the heart of the much sought after 75080 zip code!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Prairie Creek Elementary School Primary Regular 328 20 10
Prairie Creek Elementary School Middle Regular 328 20 10
Pearce High School High Regular 2,253 144 6

Prairie Creek Elementary School

  • Education Level: Primary
  • # of students: 328
  • # of teachers: 20
10
GreatSchools Rating

Prairie Creek Elementary School

  • Education Level: Middle
  • # of students: 328
  • # of teachers: 20
10
GreatSchools Rating

Pearce High School

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

$426,870$521,730$474,300

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,647
Property Tax -$1,107
Property Insurance -$157
HOA -$160
Property Management Fees -$99
CASH FLOW
-$360

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.

$474,300

PROJECTED PRICE

$2,810

PROJECTED RENT

0.59%

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$131,440

INVESTMENT

$131,440

Down Payment
$118,575
Rehab Estimate
$5,750
Closing Costs
$7,115

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,575
Loan Amount $355,725
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,896

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$2,9003$2,9504$2,9505$2,950
$2,950
RENT COMPS ANALYSIS
  • 279 Moorland Drive Richardson, TX 1
    • 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.25
    •  
  • 287 Moorland Drive Richardson, TX 2
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.27
    •  
  • 2530 N Collins Boulevard Richardson, TX 3
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2018
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.33
    •  
  • 2612 Cathedral Drive Richardson, TX 4
    • 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 2019
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.26
    •  
  • 2480 Cathedral Drive Richardson, TX 5
    • 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2018
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.31
    •  
PROPERTY LISTING DETAILS
Anish Sheth
Kanam Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496311
Last Updated: 01/08/2021
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