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3618 Christopher Richardson, TX 75082

5 Beds 3 Baths 2,666 sqft Built 1998

$414,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $155.63
  • 6 Days on Market
  • MLS # : 14479097
  • Updated Date : 12/05/2020 at 09:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,666 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

Beautiful home in prime location and award winning Plano ISD. BRAND NEW flooring in study room, Fresh new paint inside and outside the house, kitchen has granite counter tops and SS appliances. Downstairs you will find a great size master bedroom and a study room. Upstairs you will find the game room and three additional bedrooms. Newer roof from 2019

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: 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
 

$373,410$456,390$414,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,531
Property Tax -$767
Property Insurance -$181
HOA -$46
Property Management Fees -$99
CASH FLOW
-$404

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.

$414,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.54%

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

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$115,699

INVESTMENT

$115,699

Down Payment
$103,725
Rehab Estimate
$5,750
Closing Costs
$6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,239

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,2204$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 3618 Christopher Richardson, TX 3
    • 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.83
    •  
  • 5716 Gerber Terrace Plano, TX 1
    • 4 beds 2 baths ∙ 2,648 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,648 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 3912 Harlington Lane Richardson, TX 2
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 3618 Christopher Lane Richardson, TX 4
    • 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1998
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 700 Herkimer Court Plano, TX 5
    • 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Keren Bar Haim
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479097
Last Updated: 12/05/2020
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