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3144 Kettle River Court Plano, TX 75025

3 Beds 2 Baths 1,556 sqft Built 1997

$315,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $202.44
  • 4 Days on Market
  • MLS # : 14530921
  • Updated Date : 03/13/2021 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full
Listing Agent

Meru Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. OFFER DEADLINE Sunday 3-14 AT 8PM. North and East Facing home. Open Floor Plan with Fantastic layout next to Russell Creek Park. Wonderful location with great school Dist. Minutes to all major places. Recently renovated Granite counter tops, stainless steel appliances, Bath rooms, carpet and nice Wood floor. Upgrades worth over 30K in last 2 years. Great investment opportunity. Current tenant is paying $1825 rent per month. Lease term is until 03 31 2022. But tenant will move out with 2 months notice. Call listing agent for more details. Please make sure to ware mask and gloves for the COVID safety instructions .

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: Courtyard at Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Courtyard at Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11143378

* 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
Skaggs Elementary School Primary Regular 474 32 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Skaggs Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 32
10
GreatSchools Rating

Rice Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 66
10
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,094
Property Tax -$536
Property Insurance -$117
HOA -$25
Property Management Fees -$99
CASH FLOW
-$191

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.

$315,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7503$1,7954$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 3144 Kettle River Court Plano, TX 1
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.08
    •  
  • 2816 Gambel Lane Plano, TX 2
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1997
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 3021 Mill Ridge Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1997
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 3133 Kings Canyon Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1997
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 3100 Sawtooth Drive Plano, TX 5
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1995
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Vijaya Kollapaneni
Meru Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530921
Last Updated: 03/13/2021
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