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3529 Gary Drive Plano, TX 75023

4 Beds 3 Baths 3,072 sqft Built 1987

$549,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $179.00
  • 4 Days on Market
  • MLS # : 14463558
  • Updated Date : 10/31/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,072 sqft
  • Baths : 3 full
Listing Agent

Listing Results, Llc

Listing Agent's Description

Custom updated, 1 story, 3 car home in cul-de-sac, mature landscaping front & back, active. Light, open & flowing floorplan, 2 gas fireplaces, bedrooms split 3 ways. Tile, wood, vaulted ceilings, crown molding. Large kitchen, granite, stone back splash, 2 ovens, skylight, pantry, hutch & breakfast nook. Open to family, wall of windows, French doors to patio, & pool. Wet bar with wine cooler. Large master suite, wall of windows & French door to pool, spa. Large walk-in closet, custom shelving, spacious remodeled bathroom, free standing soaking tub, & quartz countertops. Private backyard & 14 foot tall screened covered patio, 2 ceiling fans, arbor with fan, lights, diving pool & spa. Walk & bike park.

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: Forest Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k493k

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

Neighborhood: Forest Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263058

* 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
Carlisle Elementary School Primary Regular 529 38 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Carlisle Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 38
8
GreatSchools Rating

Schimelpfenig Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 53
9
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,029
Property Tax -$936
Property Insurance -$205
HOA -$13
Property Management Fees -$99
CASH FLOW
-$702

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.

$549,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,580

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,4504$2,5805$2,750
$2,750
RENT COMPS ANALYSIS
  • 3529 Gary Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.84
    •  
  • 4009 Camrose Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1994
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 4209 Mead Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1990
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 6725 Grant Lane Plano, TX 3
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 1990
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
  • 3921 Overlake Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 1992
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463558
Last Updated: 10/31/2020
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