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3104 Kingston Drive Richardson, TX 75082

4 Beds 3 Baths 3,644 sqft Built 1993

$559,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $153.65
  • 3 Days on Market
  • MLS # : 14469338
  • Updated Date : 11/20/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,644 sqft
  • Baths : 3 full
Listing Agent

Savvy Way Realty, Inc

Listing Agent's Description

Impeccable turn-key Richardson home renovated top to bottom 4bd 3bth(Lrg bonus room with closets) near golf course top rated school. Reno costs $200K including new roof, foundation, pool pump DE filter system, a.c units, kitchen all baths with light grey white polished chrome neutral design colors scheme with black iron lighting accents. Open layout 30ft ceilings, fresh grey paint, carpet upstairs, wood look ceramic tile throughout ground level master bed ensuite, walk-in closet. Master bath has oversized shower free standing soaking tub. Large eat-in kitchen, stainless appliances, white gry quartz countertops subway tile backsplash, new cooktop, large island all open to family room w fireplace. pool hot tub.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wyndsor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k383k

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

Neighborhood: Wyndsor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262564

* 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
Miller Elementary School Primary Regular 427 31 8
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Miller Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 31
8
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$503,910$615,890$559,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,066
Property Tax -$1,035
Property Insurance -$238
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,188

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.

$559,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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-$20k-$15k-$10k-$5.0k$0.0

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$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$63

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,542

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,3954$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 3104 Kingston Drive Richardson, TX 2
    • 4 beds 3 baths ∙ 3,644 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,644 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.64
    •  
  • 5712 Kensington Drive Richardson, TX 1
    • 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 1996
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.68
    •  
  • 5403 Galahad Lane Richardson, TX 3
    • 4 beds 4 baths ∙ 3,329 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,329 Sqft ∙ Built 1996
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.72
    •  
  • 7304 High Point Drive Sachse, TX 4
    • 5 beds 4 baths ∙ 3,805 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,805 Sqft ∙ Built 2004
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.66
    •  
  • 5713 Saint Thomas Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2005
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.73
    •  
PROPERTY LISTING DETAILS
Will Puente
Savvy Way Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469338
Last Updated: 11/20/2020
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