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3103 Wren Lane Richardson, TX 75082

4 Beds 4 Baths 3,896 sqft Built 1988

$475,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $121.92
  • 5 Days on Market
  • MLS # : 14489524
  • Updated Date : 12/23/2020 at 16:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,896 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Stunning Home Inside & Out Nestled On A Shady Oversized Lot Next To Greenbelt & Steps From Sherrill Park Golf Course. Fabulous Interior Features Wood Floors, Plantation Shutters, Designer Light Fixtures & Serene Views From Every Window! Relax In Your Very Own Private Backyard Oasis With Pebble Tec Finish Sparkling Pool, Covered Seating Area With Misting System & Lots Of Opportunity To Create Your Dream Outdoor Kitchen! Inside You'll Find A Large Formal Living (Or Ideal Home Office) With Built-Ins, Formal Dining Room & Equally Spacious Family Room With Fireplace & Sunny Windows Providing Pool Views. Gourmet Kitchen Will Help You Prepare Gourmet Meals With Electric Cooktop, Double Ovens & Sleek Granite Counters.

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: Fairways of Sherrill Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k452k

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

Neighborhood: Fairways of Sherrill Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262715

* 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
Mendenhall Elementary School Primary Regular 591 56 4
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Mendenhall Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 56
4
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$1,753
Property Tax -$878
Property Insurance -$252
HOA -$38
Property Management Fees -$99
CASH FLOW
$140

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.

$475,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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$20k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$39,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,390

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1603$3,800
$3,800
RENT COMPS ANALYSIS
  • 3103 Wren Lane Richardson, TX 2
    • 4 beds 4 baths ∙ 3,896 Sqft ∙ Built 1988 4 beds 4 baths ∙ 3,896 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $0.81
    •  
  • 3109 Cedar Ridge Drive Richardson, TX 1
    • 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 3113 Wyndham Lane Richardson, TX 3
    • 4 beds 4 baths ∙ 4,222 Sqft ∙ Built 1989 4 beds 4 baths ∙ 4,222 Sqft ∙ Built 1989
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Terri Mccoy
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489524
Last Updated: 12/23/2020
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