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2841 Tangerine Lane Plano, TX 75074

4 Beds 3 Baths 3,026 sqft Built 2005

$395,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $130.54
  • 4 Days on Market
  • MLS # : 14514967
  • Updated Date : 02/13/2021 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,026 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

PLANO ISD w A POOL located walking distance to the 800 acre OAK POINT Park & Nature Preserve. Updated kitchen offers new white shaker cabinets, granite c-tops, stainless appliances, & center island w breakfast bar adjacent to the large living room w stone fireplace & powder bath. Work from home in the private office w closet. Formal dining w rich wood floors boasts tranquil views of the sparkling pool & waterfall! SPACIOUS second level has a MASSIVE game room that can be used for homeschooling, home gym, or a media room, plus 3 secondary bedrooms & an updated full bath, as well as the LARGE primary suite. Ensuite primary bath features jetted tub, separate shower, double sinks, & generous sized walk in closet!

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: Timberbrook West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Timberbrook West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Mccall Elementary School Primary Regular 555 39 7
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Mccall Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 39
7
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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,372
Property Tax -$672
Property Insurance -$202
HOA -$48
Property Management Fees -$99
CASH FLOW
-$213

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.

$395,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,254

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0953$2,1804$2,3955$2,450
$2,450
RENT COMPS ANALYSIS
  • 2841 Tangerine Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.72
    •  
  • 6509 Hickory Hill Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,992 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,992 Sqft ∙ Built 2006
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.69
    •  
  • 7213 Middleburg Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.71
    •  
  • 6401 Hickory Hill Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2008
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
  • 3532 Bright Star Way Plano, TX 5
    • 4 beds 4 baths ∙ 3,086 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,086 Sqft ∙ Built 2013
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
PROPERTY LISTING DETAILS
Angela Taylor
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514967
Last Updated: 02/13/2021
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