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2910 Reynolds Lane Frisco, TX 75033

3 Beds 2 Baths 2,236 sqft Built 2010

$389,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $174.37
  • 4 Days on Market
  • MLS # : 14537856
  • Updated Date : 03/27/2021 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,236 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED, H&B DUE SUNDAY 8PM. Now available and move in ready in sought after Knolls of Frisco! Zoned to some of the most desirable schools in the city. Excellently maintained by the owner and move in ready. Split floor plan, granite and ss in kitchen w gas stove, butlers pantry, TONS of cabinetry. Hardwoods extend beyond main living area into oversized mstr featuring separate vanities and two WIC's. Special touches include updated industrial lighting, extra cabinetry and counter space in utility, dbl vanity in secondary bath, updated painted stone fireplace and mantle. Large covered patio in back upgraded w extended stamped concrete flatwork. The Knolls offers a pond, green belt, playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Knolls of Frisco

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Knolls of Frisco

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Newman Elementary School Primary Unknown 617 39 NA
Trent Middle School Middle Regular NA
Lone Star High School High Regular 1,365 105 NA

Newman Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
NA
GreatSchools Rating

Trent Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,354
Property Tax -$686
Property Insurance -$156
HOA -$72
Property Management Fees -$99
CASH FLOW
-$178

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.

$389,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1004$2,1905$2,350
$2,350
RENT COMPS ANALYSIS
  • 2910 Reynolds Lane Frisco, TX 4
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.98
    •  
  • 2314 Maserati Drive Frisco, TX 1
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2003
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
  • 11828 Blackhawk Drive Frisco, TX 2
    • 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 2003
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 2228 Coldwater Lane Frisco, TX 3
    • 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 2000
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 2478 Brazos Drive Frisco, TX 5
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jamie Brannagan
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537856
Last Updated: 03/27/2021
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