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2917 Falling Brook Drive Plano, TX 75023

6 Beds 4 Baths 3,323 sqft Built 1992

$495,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $148.96
  • 2 Days on Market
  • MLS # : 14541181
  • Updated Date : 03/27/2021 at 02:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,323 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Check out this traditional gem located in a quiet, family friendly neighborhood. A wonderful highlight of this property is the private in-law suite downstairs with a full bath! This home is a perfect fit for your family, no matter the size! Abundant in space, storage or privacy! Enjoy the mature trees on this lot located in the middle of a cul-de-sac. Then retreat to the backyard where you'll find a comfortable seating area, a garden, and large pool with attached spa and water feature, surrounded by a brand new privacy fence! This home has everything you need and more and we are excited for you to make it home!

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: Oak Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k450k

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

Neighborhood: Oak Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262950

* 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
Carlisle Elementary School Primary Regular 529 38 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Carlisle Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 38
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
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,719
Property Tax -$842
Property Insurance -$219
HOA -$19
Property Management Fees -$99
CASH FLOW
-$169

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.

$495,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$11,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,708

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,7303$2,7954$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2917 Falling Brook Drive Plano, TX 2
    • 6 beds 4 baths ∙ 3,323 Sqft ∙ Built 1992 6 beds 4 baths ∙ 3,323 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.82
    •  
  • 2904 Benchmark Drive Plano, TX 1
    • 5 beds 4 baths ∙ 3,527 Sqft ∙ Built 1995 5 beds 4 baths ∙ 3,527 Sqft ∙ Built 1995
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.76
    •  
  • 7705 Case Drive Plano, TX 3
    • 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 1991
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.83
    •  
  • 2116 Houlton Lane Plano, TX 4
    • 5 beds 5 baths ∙ 3,584 Sqft ∙ Built 1992 5 beds 5 baths ∙ 3,584 Sqft ∙ Built 1992
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 3505 Spring Mountain Drive Plano, TX 5
    • 5 beds 4 baths ∙ 3,630 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,630 Sqft ∙ Built 1997
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Naomi Jones
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541181
Last Updated: 03/27/2021
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