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3212 Timber Brook Drive Plano, TX 75074

3 Beds 2 Baths 2,228 sqft Built 1997

INVESTimate

$335,000

List Price

$1,940

$1,746 - $2,134

Rent Est.

$360,159  ( +7.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $150.36
  • 4 Days on Market
  • MLS # : 14419211
  • Updated Date : 08/23/2020 at 09:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,228 sqft
  • Baths : 2 full
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

FULLY REMODELED HOME BOASTING EXCEPTIONAL DESIGN. LUXURY VINYL FLOORS, EXTENSIVE DESIGNER TILES WITH ALL THE BEST COLORS THROUGHOUT THE HOME. KITCHEN BOASTS BEAUTIFUL GRANITE TOPS, AND HUGE OPEN CONCEPT DESIGN. THIS HOME HAS A FEEL OF EXCEPTIONAL LIGHTING COMING THROUGH THE LARGE WINDOWS. LIVING HAS A BRICK FIREPLACE AND OVERLOOKS THE LARGE STAMPED CONCRETE PATIO WITH PRIVATE BACKYARD WITH 8 FOOT BOARD ON BOARD FENCING. BOTH BATHROOMS ARE COMPLETE WITH ALL NEW TILE WORK, VANITIES, LIGHTS AND FRESH PAINT. DONT MISS OUT ON THIS WONDERFUL OPEN CONCEPT AND COMPLETELY UPDATED HOME.

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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: Timberbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Timberbrook 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
Mccall Elementary School Primary Regular 555 39 7
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Mccall Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 39
7
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,236
Property Tax -$561
Property Insurance -$156
HOA -$33
Property Management Fees -$99
CASH FLOW
-$146

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.

$335,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.51%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9903$1,9954$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 3212 Timber Brook Drive Plano, TX 1
    • 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.87
    •  
  • 3413 Bright Star Way Plano, TX 2
    • 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
  • 3329 Heatherbrook Drive Plano, TX 3
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1998
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
  • 3205 Heatherbrook Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1998
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.90
    •  
  • 7217 Cloverleaf Drive Plano, TX 5
    • 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2000
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Justin Phillips
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419211
Last Updated: 08/23/2020
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