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3005 Copper Ridge Drive Plano, TX 75093

4 Beds 4 Baths 3,465 sqft Built 1998

$509,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $146.90
  • 6 Days on Market
  • MLS # : 14451313
  • Updated Date : 11/01/2020 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,465 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Spectacular executive home in highly sought after Highlands of Preston Ridge neighborhood. Layout is ideal for hosting friends and family for the holidays. Formals are large & light with high ceilings and plantation shutters. Wonderful den with a wall of windows that overlook the fabulous pool area, outdoor living and 2 backyards! Kitchen & breakfast area flow into the den in this open floorplan. Spacious Master suite is upstairs with spa-like master bath. This home has is all; 3 car garage, NEW carpet, NEW AC unit, Large Corner lot, West Plano Schools. Kitchen refrigerator, washer, dryer will convey with property. Video Tour is on YouTube, search this home address!

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: Highlands of Preston Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k789k

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

Neighborhood: Highlands of Preston Ridge

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
Hightower Elementary School Primary Regular 549 39 9
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Hightower Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 39
9
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$458,100$559,900$509,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$1,878
Property Tax -$866
Property Insurance -$227
HOA -$19
Property Management Fees -$99
CASH FLOW
$251

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.

$509,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.3%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,635

INVESTMENT

$140,635

Down Payment
$127,250
Rehab Estimate
$5,750
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$54,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,543

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3403$3,5004$3,6005$3,600
$3,600
RENT COMPS ANALYSIS
  • 3005 Copper Ridge Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,465 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,465 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $0.96
    •  
  • 4809 Pyramid Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2005
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.99
    •  
  • 4409 Oak Knoll Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1994
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 4804 Lofty Lane Plano, TX 4
    • 4 beds 4 baths ∙ 3,353 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,353 Sqft ∙ Built 2007
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.07
    •  
  • 4713 Eva Place Plano, TX 5
    • 4 beds 4 baths ∙ 3,563 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,563 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Brooke Vest
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14451313
Last Updated: 11/01/2020
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