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3010 Jomar Drive Plano, TX 75075

3 Beds 3 Baths 2,228 sqft Built 1984

$334,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $150.31
  • 2 Days on Market
  • MLS # : 14464464
  • Updated Date : 11/07/2020 at 13:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,228 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Absolute stunning garden home in the perfect Plano location. Completely remodeled with no detail left untouched. Real Oak nail-down hardwood floors, 2 NEW ACs with all new ducts, NEW water heater, NEW Roof, NEW energy efficient windows, NEW fence. Large open concept living room with double tall ceilings and plenty of natural light throughout. Chef's kitchen complete with gorgeous stone countertops and breakfast nook overlooking the backyard.. Incredible spa-like master bath with seamless glass shower and soaking tub. Walking distance to award winning exemplary rated schools. Minutes from great shopping, restaurants, and entertainment. Located perfectly near George Bush Turnpike, 75, and DNT for commuters.

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: Wooded Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Wooded Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10922224

* 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
Jackson Elementary School Primary Regular 594 54 6
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Jackson Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 54
6
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 62
6
GreatSchools Rating

Plano Senior High School

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

$301,410$368,390$334,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,236
Property Tax -$570
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$60

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.

$334,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0954$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 3010 Jomar Drive Plano, TX 2
    • 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 3029 Brookshire Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1992
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 3213 Forester Way Plano, TX 3
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1974
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
  • 3004 Sewanee Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1972
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.94
    •  
  • 3033 Brookshire Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1993
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.99
    •  
PROPERTY LISTING DETAILS
Anthony Graham
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464464
Last Updated: 11/07/2020
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