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3595 Lincoln Drive Frisco, TX 75034

3 Beds 3 Baths 2,554 sqft Built 2001

$375,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $146.83
  • 4 Days on Market
  • MLS # : 14515446
  • Updated Date : 02/14/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,554 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

*MULTIPLE OFFERS* Highest & Best due by 7:00 pm Saturday Fabulous 2 story traditional situated in the gate guarded community of Heritage Lakes. This stunning turn-key home offers awe-inspiring 18 ft ceiling, luxurious hardwood floors and a thoughtfully designed floor plan. Entertaining friends and family is a breeze with sightlines from the kitchen to the living room. The primary bedroom is an owner's dream with soaring vaulted ceilings, an expansive WIC and bright en suite bath. Upstairs you'll find a great second living space for kids to enjoy. Heritage Lakes is the perfect place to call home with a variety of amenities to suit every lifestyle with a golf course, swimming pools, catch & release pond & more

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: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k446k

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

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262798

* 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
Hicks Elementary School Primary Regular 615 43 9
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Hicks Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 43
9
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,303
Property Tax -$660
Property Insurance -$175
HOA -$197
Property Management Fees -$99
CASH FLOW
-$164

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.

$375,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,497

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,4003$2,5004$2,5005$2,795
$2,795
RENT COMPS ANALYSIS
  • 3595 Lincoln Drive Frisco, TX 1
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.89
    •  
  • 4134 Constitution Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2001
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 3623 Washington Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2004
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
  • 3594 Lincoln Drive Frisco, TX 4
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2001
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 4130 Kate Drive Frisco, TX 5
    • 3 beds 3 baths ∙ 2,683 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,683 Sqft ∙ Built 2015
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.04
    •  
PROPERTY LISTING DETAILS
Heidi Marsh
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515446
Last Updated: 02/14/2021
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