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3456 Bumelia Drive Frisco, TX 75033

4 Beds 4 Baths 3,275 sqft Built 2004

INVESTimate

$430,000

List Price

$2,640

$2,390 - $2,890

Rent Est.

$453,693  ( +5.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $131.30
  • 6 Days on Market
  • MLS # : 14416623
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,275 sqft
  • Baths : 3 full , 1 half
Listing Agent

Nexthome Premier Choice

Listing Agent's Description

Beautiful 4BR 3.1 BA with a study in highly sought after neighborhood of Heather Ridge. The gorgeous fireplace is the centerpiece of the downstairs living area which is open to the gourmet kitchen featuring gas cooktop, double ovens, and granite countertops. Dual staircases lead to 3 additional bedrooms and a game room. This home also has an expansive 3 car garage, landscaped yard, and extended patio with wood privacy fence. The community boasts beautiful tree-lined streets, community pool, and playground.

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: 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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,587
Property Tax -$757
Property Insurance -$216
HOA -$44
Property Management Fees -$99
CASH FLOW
-$63

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.

$430,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.51%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$19,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,6403$2,6504$2,7255$2,945
$2,945
RENT COMPS ANALYSIS
  • 3456 Bumelia Drive Frisco, TX 2
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.81
    •  
  • 9861 Chamber Hall Drive Frisco, TX 1
    • 3 beds 4 baths ∙ 3,135 Sqft ∙ Built 2003 3 beds 4 baths ∙ 3,135 Sqft ∙ Built 2003
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.76
    •  
  • 3733 Cherry Ridge Drive Frisco, TX 3
    • 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.85
    •  
  • 11222 Raveneaux Drive Frisco, TX 4
    • 5 beds 4 baths ∙ 3,301 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,301 Sqft ∙ Built 2000
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.83
    •  
  • 3203 Overhill Drive Frisco, TX 5
    • 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2006
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $0.85
    •  
PROPERTY LISTING DETAILS
Allison Cummins
Nexthome Premier Choice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416623
Last Updated: 08/22/2020
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