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2912 Millstream Drive Plano, TX 75075

5 Beds 3 Baths 2,881 sqft Built 1993

$449,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $156.16
  • 3 Days on Market
  • MLS # : 14470205
  • Updated Date : 11/13/2020 at 19:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,881 sqft
  • Baths : 3 full
Listing Agent

Mason Real Estate Company

Listing Agent's Description

Beautiful home one block from the Chisholm Trail. Many upgrades including laminate flooring, tankless water heater,Painted entirely inside including kitchen cabinets,Fence and pergola stained, storage building 2.5 years, new gates, resurfaced pool, tile and mastic, new large master shower, Heater 1.5 years ago, Roof 2016, ACs in 2014, new landscaping and much more. 5 bedrooms are big and walk in closets are large. Plantation shutters on the front of the home, 3 bathrooms, and 3 car garage on a larger corner lot. Solar screens all around for efficiency. Large grassy area for your pets out back. Double stage crown moldings. In the heart of Plano. Close Hwy 75 and the newly developed outdoor mall at Collin Crk.

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: Creek Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k453k

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

Neighborhood: Creek Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262904

* 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
Harrington Elementary School Primary Regular 427 37 10
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Harrington Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 37
10
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,660
Property Tax -$765
Property Insurance -$194
Property Management Fees -$99
CASH FLOW
-$328

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.

$449,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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$1.4M$1.6M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

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 $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,341

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2954$2,3905$2,500
$2,500
RENT COMPS ANALYSIS
  • 2912 Millstream Drive Plano, TX 4
    • 5 beds 3 baths ∙ 2,881 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,881 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.83
    •  
  • 1420 Debon Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 1980
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 1805 Sacramento Terrace Plano, TX 2
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1987
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 1509 Harrington Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 1984
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.76
    •  
  • 1520 Croston Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1983
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Carl Mason
Mason Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470205
Last Updated: 11/13/2020
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