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

3609 Banks Circle Plano, TX 75025

4 Beds 3 Baths 2,442 sqft Built 1994

$445,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $182.23
  • 3 Days on Market
  • MLS # : 14539156
  • Updated Date : 03/26/2021 at 09:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,442 sqft
  • Baths : 3 full
Listing Agent

Botero-miller Realty

Listing Agent's Description

Lovely light and bright Huntington home with generous sized backyard and sparkling swimming pool & spa resurfaced in 2019. Solid wood floors extend from first floor through stairs, up to second floor hallway. Secluded master bedroom upstairs has window sitting area with beautiful view of pool and backyard. Second and third bedrooms are also upstairs. Fourth bedroom or office downstairs is currently used as playroom. Granite countertops in kitchen and all baths. Secondary baths renovated. Walk-in pantry by laundry room. HVAC units replaced 2019. Carpet in bedrooms replaced, and walls painted in 2020. Established neighborhood with mature trees, half a block from Russell Creek Park! Highly rated K-12 schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Highland Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Highland Ridge

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
Wyatt Elementary School Primary Regular 512 36 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Wyatt Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 36
10
GreatSchools Rating

Rice Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 66
10
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,546
Property Tax -$757
Property Insurance -$168
HOA -$50
Property Management Fees -$99
CASH FLOW
-$270

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.

$445,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,510

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2254$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 3609 Banks Circle Plano, TX 5
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 8609 Kendall Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 3516 Mason Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1997
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 3633 Salford Drive Plano, TX 3
    • 4 beds 4 baths ∙ 2,584 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,584 Sqft ∙ Built 1995
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.86
    •  
  • 3833 Stockport Drive Plano, TX 4
    • 3 beds 2 baths ∙ 2,525 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,525 Sqft ∙ Built 1992
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Cristina Botero
Botero-miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539156
Last Updated: 03/26/2021
BESbswy