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3408 Porter Creek Drive Plano, TX 75025

3 Beds 3 Baths 2,233 sqft Built 2009

$370,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $165.70
  • 3 Days on Market
  • MLS # : 14527737
  • Updated Date : 03/06/2021 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,233 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday-propmgmt&leasing

Listing Agent's Description

Fantastic Ryland built home features great floor plan with an abundance of upgrades including hardwoods, iron balusters, arched doorways, glass block windows in breakfast & masetr bath, recessed & pendant lighting, brushed nickel hardware, ceiling fans, 42 in cabs, water purifier, granite, GE Profile appliances including gas cook top & c-tile in all wet areas. Frisco schools!

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: Ridgeview Villas

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Ridgeview Villas

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
Portia Ross Taylor Elementary School Primary Regular 666 40 9
Pat And Catherine Fowler Middle School Middle Regular 1,001 67 10
Liberty High School High Regular 2,039 137 9

Portia Ross Taylor Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 40
9
GreatSchools Rating

Pat And Catherine Fowler Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 67
10
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,285
Property Tax -$630
Property Insurance -$156
HOA -$83
Property Management Fees -$99
CASH FLOW
$7

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.

$370,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,255

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,2504$2,2605$2,300
$2,300
RENT COMPS ANALYSIS
  • 3408 Porter Creek Drive Plano, TX 4
    • 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.01
    •  
  • 3409 Porter Creek Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2010
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 3529 Pillar Drive Plano, TX 2
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2010
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 3517 Pillar Drive Plano, TX 3
    • 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2011
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.01
    •  
  • 3413 Pillar Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2012
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
PROPERTY LISTING DETAILS
Christine Campbell
Ebby Halliday-propmgmt&leasing
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527737
Last Updated: 03/06/2021
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