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3606 Tanner Lane Richardson, TX 75082

4 Beds 3 Baths 2,796 sqft Built 1996

$429,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $153.76
  • 2 Days on Market
  • MLS # : 14463753
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,796 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautiful, well maintained home in Richardson.

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: Mackenzie Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k424k

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

Neighborhood: Mackenzie Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262533

* 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
Schell Elementary School Primary Regular 668 45 8
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Schell Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 45
8
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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,586
Property Tax -$795
Property Insurance -$189
HOA -$60
Property Management Fees -$99
CASH FLOW
-$359

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.

$429,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 1.6%
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-$10k-$8.0k-$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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,405

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2953$2,3704$2,4505$2,499
$2,499
RENT COMPS ANALYSIS
  • 3606 Tanner Lane Richardson, TX 3
    • 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.85
    •  
  • 3912 Harlington Lane Richardson, TX 1
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 3306 Parkhurst Lane Richardson, TX 2
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
  • 700 Herkimer Court Plano, TX 4
    • 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
  • 4129 Elk Springs Trail Richardson, TX 5
    • 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2000
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.85
    •  
PROPERTY LISTING DETAILS
Chris Gohlke
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463753
Last Updated: 11/07/2020
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