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2840 Faversham Drive Richardson, TX 75082

4 Beds 4 Baths 4,179 sqft Built 1996

$450,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $107.68
  • 2 Days on Market
  • MLS # : 14484700
  • Updated Date : 12/12/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,179 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Charming home located minutes from 400+ ac Breckinridge Park and within walking distance to the elementary in PISD. Spacious living room has tall ceilings with a LARGE OPEN KITCHEN that overlooks the living room. The kitchen has GRANITE CTOPS, lots of cabinet space, and HUGE walk in pantry. Oversized MASTER RETREAT downstairs. Upstairs has 3 SPACIOUS Bedrooms with 2 Full Baths. HUGE GAMEROOM, great for kids to play or escape to watch a movie, with a fantastic view to watch fireworks on July 4th. Flex Space off Garage is Perfect for Mud Room or Storage. New Carpet in entire home. New Roof 2016, New HVAC 2016, New Fence 2016, New Water Heater 2018. Convenient to George Bush Tollway, 2 golf courses, and CityLine.

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: Wyndsor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k383k

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

Neighborhood: Wyndsor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262564

* 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
Miller Elementary School Primary Regular 427 31 8
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Miller Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 31
8
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

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

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,660
Property Tax -$872
Property Insurance -$269
HOA -$33
Property Management Fees -$99
CASH FLOW
-$263

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

$2,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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-$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$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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,894

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6703$3,0004$3,0005$3,150
$3,150
RENT COMPS ANALYSIS
  • 2840 Faversham Drive Richardson, TX 2
    • 4 beds 4 baths ∙ 4,179 Sqft ∙ Built 1996 4 beds 4 baths ∙ 4,179 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.64
    •  
  • 4400 Breckinridge Boulevard Richardson, TX 1
    • 5 beds 4 baths ∙ 3,995 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,995 Sqft ∙ Built 2001
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.65
    •  
  • 4404 Breckinridge Boulevard Richardson, TX 3
    • 5 beds 4 baths ∙ 4,264 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,264 Sqft ∙ Built 2001
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.70
    •  
  • 2901 Glenwood Springs Court Richardson, TX 4
    • 4 beds 5 baths ∙ 4,289 Sqft ∙ Built 2000 4 beds 5 baths ∙ 4,289 Sqft ∙ Built 2000
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.70
    •  
  • 2600 Fairfield Drive Richardson, TX 5
    • 5 beds 5 baths ∙ 4,391 Sqft ∙ Built 2001 5 beds 5 baths ∙ 4,391 Sqft ∙ Built 2001
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.72
    •  
PROPERTY LISTING DETAILS
Lindsay Taylor
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484700
Last Updated: 12/12/2020
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