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3349 Corkwood Drive Frisco, TX 75033

5 Beds 4 Baths 3,722 sqft Built 2003

$649,900

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $174.61
  • 2 Days on Market
  • MLS # : 14535746
  • Updated Date : 03/20/2021 at 12:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,722 sqft
  • Baths : 4 full
Listing Agent

Refined Realty, Llc

Listing Agent's Description

Updated Dream Home on a spectacular interior lot in Heather Ridge Estates! 5 Br or 4 w Study, 3 Living, 4 Baths, Owners Retreat and 2nd Bedroom down. Soaring Ceilings, stunning catwalk with iron balusters, open floorplan with large rooms, 3 Car side by side Garage with overhead storage & cabinets, privacy fence & electric gate, plantation shutters, large Island Kitchen with Breakfast Bar. Remodeled Kitchen with gorgeous new 3 cm Quartzite countertops, gas cooktop, stainless appliances, builtins. Private backyard with open patio, privacy fence with electric gate. Wakeland High School! HOA includes Playground, Pool, Pond & Trails. Buyer agent to verify all.

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: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k540k

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263337

* 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
Reba Cobb Carroll Elementary School Primary Regular 508 34 9
Robert Cobb Middle School Middle Regular 909 63 NA
Justin Wakeland High School High Regular 2,220 140 9

Reba Cobb Carroll Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 34
9
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,257
Property Tax -$1,144
Property Insurance -$242
HOA -$44
Property Management Fees -$99
CASH FLOW
-$676

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.

$649,900

PROJECTED PRICE

$3,110

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,210

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,1104$3,2005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3349 Corkwood Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.84
    •  
  • 9768 Hawks Landing Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 3,642 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,642 Sqft ∙ Built 1999
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
  • 2903 Blackstone Drive Frisco, TX 2
    • 4 beds 4 baths ∙ 3,572 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,572 Sqft ∙ Built 2003
    property image
    LEASED 03/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 2079 Spindletop Trail Frisco, TX 4
    • 5 beds 4 baths ∙ 3,664 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,664 Sqft ∙ Built 2000
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.87
    •  
  • 2629 April Sound Drive Frisco, TX 5
    • 4 beds 5 baths ∙ 3,805 Sqft ∙ Built 2001 4 beds 5 baths ∙ 3,805 Sqft ∙ Built 2001
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Donna Parker
Refined Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535746
Last Updated: 03/20/2021
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