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3316 Parkhurst Lane Richardson, TX 75082

5 Beds 4 Baths 3,824 sqft Built 2000

$485,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $126.83
  • 5 Days on Market
  • MLS # : 14525319
  • Updated Date : 03/26/2021 at 15:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,824 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Fabulous floor plan on gorgeous wooded lot! Spread out in this five bedroom, 4 bath beauty with 3 living areas. Downstairs boasts soaring ceilings, beautiful formal living and dining. The large open kitchen is equipped with stainless steel appliances, tons of cabinetry and counter space, a huge walk-in pantry and a built-in butlers pantry. The huge windows let in plenty of natural light and natural wood views. The oversized master includes separate vanities, and a spacious walk-in closet. A second bedroom and full bath, also located downstairs, would make an excellent office or guest room. Upstairs you will find 3 nice size BRs & game room. MULTIPLE OFFERS RECEIVED. Please submit Highest & Best by 3-27 at 9 pm.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Creek Hollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Creek Hollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Stinson Elementary School Primary Regular 593 43 9
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Stinson Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 43
9
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$1,685
Property Tax -$897
Property Insurance -$248
HOA -$24
Property Management Fees -$99
CASH FLOW
$87

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.

$485,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.1%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$28,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $3,250

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,0003$3,0404$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3316 Parkhurst Lane Richardson, TX 3
    • 5 beds 4 baths ∙ 3,824 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,824 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.79
    •  
  • 3020 Cotters Circle Richardson, TX 1
    • 4 beds 3 baths ∙ 3,514 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,514 Sqft ∙ Built 2003
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.77
    •  
  • 3109 Cedar Ridge Drive Richardson, TX 2
    • 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 3315 Meadow Wood Drive Richardson, TX 4
    • 4 beds 4 baths ∙ 3,819 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,819 Sqft ∙ Built 2000
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.86
    •  
  • 3608 Parkhurst Circle Richardson, TX 5
    • 5 beds 4 baths ∙ 3,750 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,750 Sqft ∙ Built 1996
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Susan Kassen
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525319
Last Updated: 03/26/2021
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