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3288 Candlewood Trail Plano, TX 75023

4 Beds 3 Baths 2,124 sqft Built 1996

$355,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $167.14
  • 2 Days on Market
  • MLS # : 14489521
  • Updated Date : 01/01/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,124 sqft
  • Baths : 2 full , 1 half
Listing Agent

Select Homes Realty

Listing Agent's Description

Most popular plan in The Trails and it's on the Chisholm Trail, with miles of walking, running, biking, at your back door. Master suite down. Huge second bedroom up, plus 2 more. Fourth bedroom has wood flooring and can be used as a study. Lots of custom storage cabinets have been added in family, kitchen, and bathrooms. Formal dining makes a great TV room. Separate breakfast area. Matching 20 inch tile covers the entire downstairs. Wood upstairs, with upgraded carpet in 2 bedrooms. Plantation shutters downstairs. Granite on all countertops. Wrought iron stairs, and many other updates. Built-in safe. Even a doggie door! This home had major updating about 5-10 years ago.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10892224

* 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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,310
Property Tax -$604
Property Insurance -$150
HOA -$21
Property Management Fees -$99
CASH FLOW
-$54

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.

$355,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,1004$2,1305$2,150
$2,150
RENT COMPS ANALYSIS
  • 3288 Candlewood Trail Plano, TX 4
    • 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.00
    •  
  • 3201 Maumelle Drive Plano, TX 1
    • 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 1994
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 3337 Candlewood Trail Plano, TX 2
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1996
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 3257 Candlewood Trail Plano, TX 3
    • 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 1994
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 3001 Ridge Hollow Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1996
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
PROPERTY LISTING DETAILS
Donald Speckman
Select Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489521
Last Updated: 01/01/2021
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