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2801 Persimmons Court Plano, TX 75074

3 Beds 2 Baths 1,208 sqft Built 1985

INVESTimate

$215,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$235,404  ( +9.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $177.98
  • 5 Days on Market
  • MLS # : 14415794
  • Updated Date : 08/25/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,208 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

This 3 bedroom, 2 bath home is situated on a quiet cul-de-sac, with a large backyard. Step into the foyer and you are welcomed by the large living area with wood burning fireplace. Crown molding enhances the structural details of the home. Bay window in the dining area bring in the natural light. Adjacent is the kitchen with pantry and utility room. Updates include: Water heater 2015, roof, 2016, HVAC 2017. Close to major highways, restaurants and shopping. Near Bob Woodruff Park and Oak Point Nature Preserve.

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: Peachtree Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $97k370k

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

Neighborhood: Peachtree Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8632224

* 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
Memorial Elementary School Primary Regular 529 47 3
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Memorial Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 47
3
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$793
Property Tax -$366
Property Insurance -$97
HOA -$40
Property Management Fees -$99
CASH FLOW
$5

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.

$215,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,392

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 2801 Persimmons Court Plano, TX 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
  • 3013 Peachtree Lane Plano, TX 2
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1978
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 3112 Kings Way Plano, TX 3
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1978
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.15
    •  
  • 3004 Kings Way Plano, TX 4
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1978
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.15
    •  
  • 3005 Peachtree Lane Plano, TX 5
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1973
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
PROPERTY LISTING DETAILS
Berni Eberle
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415794
Last Updated: 08/25/2020
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