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3229 Red Deer Court Plano, TX 75093

4 Beds 4 Baths 3,738 sqft Built 1996

$570,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $152.49
  • 4 Days on Market
  • MLS # : 14489088
  • Updated Date : 01/29/2021 at 09:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,738 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sharon Ketko Realty

Listing Agent's Description

**OPEN HOUSE SAT. JAN. 30 FROM 1:00-4:00 PM** Stunning home sits on a cul-de-sac practically in sight of Prestonwood Hills golf course and a few blocks from Arbor Hills Nature Preserve. Made for entertaining, you'll find spacious rooms, large window with Plantation shutters, an executive study and more. Gourmet kitchen features a Viking electric cooktop, Dacor convection oven, warmer drawer, granite counters and walk-in pantry. Master suite is down, overlooking the backyard pool and patio with a spa-like bath: jet tub, huge double vanity plus walk-in closet. Upstairs is a spacious game room and 3 guest bedrooms. Relax all year round on the covered patio leading to a sparkling pool and spa.

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: Hills of Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k746k

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

Neighborhood: Hills of Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263181

* 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
Homestead Elementary School Primary Regular 597 42 8
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Homestead Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 42
8
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$513,000$627,000$570,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$1,980
Property Tax -$994
Property Insurance -$234
HOA -$38
Property Management Fees -$99
CASH FLOW
-$75

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.

$570,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$20,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,394

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2703$3,3504$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3229 Red Deer Court Plano, TX 2
    • 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $0.91
    •  
  • 3124 Prestonwood Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
  • 6228 Old York Drive Plano, TX 3
    • 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.98
    •  
  • 2704 Barrington Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,591 Sqft ∙ Built 1994 5 beds 4 baths ∙ 3,591 Sqft ∙ Built 1994
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.97
    •  
  • 6304 Brimwood Drive Plano, TX 5
    • 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sharon Ketko
Sharon Ketko Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489088
Last Updated: 01/29/2021
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