Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3508 Newhaven Drive Richardson, TX 75082

4 Beds 4 Baths 3,750 sqft Built 1995

$479,500

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $127.87
  • 2 Days on Market
  • MLS # : 14485895
  • Updated Date : 12/19/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,750 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Enter this warm, welcoming home with open spaces and a formal living to greet you. The floor plan is thoughtfully completed to allow enough space for each member of the family to have privacy and work or attend school without disturbing the other household members. Fantastic saltwater pool and a garden in the side yard make this home a perfect place to quarantine. A short 3 minute drive and you are at Breckenridge Park. Upgrades include Low-E windows, new carpet, new window blinds, new iron balusters. Don’t miss out on the opportunity to own this GEM!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$431,550$527,450$479,500

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,769
Property Tax -$887
Property Insurance -$244
HOA -$24
Property Management Fees -$99
CASH FLOW
-$83

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.

$479,500

PROJECTED PRICE

$2,940

PROJECTED RENT

0.61%

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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,818

INVESTMENT

$132,818

Down Payment
$119,875
Rehab Estimate
$5,750
Closing Costs
$7,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,769

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,875
Loan Amount $359,625
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$19,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,188

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,9403$3,0004$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3508 Newhaven Drive Richardson, TX 2
    • 4 beds 4 baths ∙ 3,750 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,750 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.78
    •  
  • 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 3
    • 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
Richard Lin
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485895
Last Updated: 12/19/2020
BESbswy