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2817 Corby Drive Plano, TX 75025

4 Beds 3 Baths 2,596 sqft Built 1986

$450,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $173.34
  • 3 Days on Market
  • MLS # : 14504063
  • Updated Date : 01/30/2021 at 15:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

***Highest and Best offers due by 8:00 p.m., Saturday, January 30*** Updated to perfection, this beautiful 1 story will delight any buyer. Attention to detail and pride of ownership are evident as seller has done the following: all new windows 2020, roof 2016, HVAC (furnace & AC-Lennox 16SEER) 2017, pool renovated 2012, landscape reno including backyard artificial turf 2020, new nailed down wd flrs in entry, dining, 2 living areas, halls & mstr bdrm 2021. Interior painted, new light fixtures, cabinet & door hardware, new sinks, quartzite countertops and faucets 2021, cooktop 2021, dbl ovens 2017, master shower, new commodes, pedestal in powder 2016. Gorgeous pool, BoB fence, maintenance free backyard.

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
 

$405,000$495,000$450,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,563
Property Tax -$766
Property Insurance -$177
Property Management Fees -$99
CASH FLOW
-$375

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.

$450,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,133

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
  • $0.86

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1003$2,2004$2,2305$2,295
$2,295
RENT COMPS ANALYSIS
  • 2817 Corby Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.86
    •  
  • 7405 Ryan Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 3116 Congress Avenue Plano, TX 2
    • 3 beds 3 baths ∙ 2,463 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,463 Sqft ∙ Built 1994
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2708 Redfield Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990
    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
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.84
    •  
PROPERTY LISTING DETAILS
Ann O'blenes
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504063
Last Updated: 01/30/2021
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