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3412 Matagorda Springs Drive Plano, TX 75025

5 Beds 4 Baths 3,631 sqft Built 1999

$450,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $123.93
  • 1 Days on Market
  • MLS # : 14509683
  • Updated Date : 01/31/2021 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,631 sqft
  • Baths : 4 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Spacious and lovely home with a spacious kitchen with granite counter tops, stainless steel appliances, lots of cabinet space, and pantry. The luxurious living area has high cathedral ceilings and gas fireplace. The 2-story foyer opens to the Formal Living Room and Formal Dining Room. Master bedroom is on the main level with a wonderful large master bathroom with garden tub, separate shower, and separate vanity sinks. Newer wood floors throughout, AC units replaced in 2014 and new paint. Low maintenance back yard with a pergola great for BBQ's and parties! Home is not currently Staged. Painters and cleaners finishing up Sunday the 31st.

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: Spring Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Spring Ridge

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
Skaggs Elementary School Primary Regular 474 32 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Skaggs Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 32
10
GreatSchools Rating

Rice Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 66
10
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,563
Property Tax -$822
Property Insurance -$237
HOA -$30
Property Management Fees -$99
CASH FLOW
$49

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.

$450,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$23,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7503$2,7954$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 3412 Matagorda Springs Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,631 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,631 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
  • 8301 Salado Springs Drive Plano, TX 1
    • 5 beds 4 baths ∙ 3,581 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,581 Sqft ∙ Built 1999
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.72
    •  
  • 8304 Fountain Springs Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,591 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,591 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.77
    •  
  • 8205 Fountain Springs Drive Plano, TX 3
    • 5 beds 4 baths ∙ 3,705 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,705 Sqft ∙ Built 2000
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.75
    •  
  • 3416 Nickel Creek Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,607 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,607 Sqft ∙ Built 1997
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
PROPERTY LISTING DETAILS
Hector Pimentel
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509683
Last Updated: 01/31/2021
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