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2976 Marlow Lane Richardson, TX 75082

4 Beds 2 Baths 2,488 sqft Built 1998

$369,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $148.31
  • 3 Days on Market
  • MLS # : 14500208
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,488 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Welcome home!  This four bedroom two bath, single story home sits on a corner lot in highly sought after Creek Hollow Estates and feeds into Stinson Elementary. This light and bright home has plenty of windows for great natural lighting, a flexible split bedroom floorplan, extra large kitchen with lots of storage and hardwood or vinyl floors throughout most of the home. The bright over sized living room with a wall of windows looks out onto a covered patio and private yard that is perfect for gatherings of family and friends.... all this home needs is you!

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 Hollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Creek Hollow Estates

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
Stinson Elementary School Primary Regular 593 43 9
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Stinson Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 43
9
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,282
Property Tax -$682
Property Insurance -$171
HOA -$26
Property Management Fees -$99
CASH FLOW
$41

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.

$369,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.1%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$19,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1953$2,2004$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 2976 Marlow Lane Richardson, TX 5
    • 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 3032 Pinon Canyon Lane Richardson, TX 1
    • 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2001
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 3912 Harlington Lane Richardson, TX 2
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 705 Weeping Willow Road Garland, TX 3
    • 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1999
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 3306 Parkhurst Lane Richardson, TX 4
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
PROPERTY LISTING DETAILS
Veena Puppala
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500208
Last Updated: 01/15/2021
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