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3208 Nova Trail Plano, TX 75023

3 Beds 2 Baths 1,505 sqft Built 2000

$298,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $198.01
  • 3 Days on Market
  • MLS # : 14504308
  • Updated Date : 01/23/2021 at 21:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full
Listing Agent

Williams Trew Real Estate

Listing Agent's Description

**Multiple Offers! Please submit best and final offer by Sunday, January 24th ** Precious home, quiet neighborhood, and fabulous location. Light and bright interior with fresh paint, decorative light fixtures and fully updated kitchen with tile backsplash and new appliances. New roof 2019, 9ft privacy fence, 2 inch blinds throughout. Access to miles of walking trails is just around the corner. Book your appointment, this one won't last long!

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: Spring Creek Parkway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Spring Creek Parkway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Carlisle Elementary School Primary Regular 529 38 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Carlisle Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 38
8
GreatSchools Rating

Schimelpfenig Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 53
9
GreatSchools Rating

Plano Senior High School

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

$268,200$327,800$298,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,035
Property Tax -$507
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$35

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.

$298,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.5%
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

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$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,7954$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 3208 Nova Trail Plano, TX 2
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.14
    •  
  • 3105 Ridge Hollow Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1994
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 3224 Santana Lane Plano, TX 3
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1981
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 3204 Anchor Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1983
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.15
    •  
  • 3213 Portside Lane Plano, TX 5
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1983
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.19
    •  
PROPERTY LISTING DETAILS
Michelle Scarborough
Williams Trew Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504308
Last Updated: 01/23/2021
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