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3705 Copperwood Drive Richardson, TX 75082

4 Beds 4 Baths 4,144 sqft Built 1998

$590,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $142.37
  • 3 Days on Market
  • MLS # : 14504141
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,144 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful Custom Home nestled into The Woods of Springcreek. 4 Bedroom plus a separate Study, 3 and 1 Half Baths, 3 Car Garage. Beautiful pool, spa with covered patio! One step inside and you will feel right at home. Immediately you will notice all of the gorgeous custom moulding framing the rooms and entrances, You will love the huge kitchen with lots of counter space plus a huge walk in pantry. Enjoy your evenings around a gorgeous granite fireplace! Two staircases are available for your convenience. You family will enjoy the Gameroom with wetbar and the media room upstairs. This home speaks elegance and is in a prime location north of Dallas! Book your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woods of Springcreek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k465k

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

Neighborhood: Woods of Springcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262987

* 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
Stinson Elementary School Primary Regular 593 43 9
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Stinson Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 43
9
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
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,049
Property Tax -$1,091
Property Insurance -$267
HOA -$38
Property Management Fees -$99
CASH FLOW
-$633

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.

$590,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.6%
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$1.2M$1.4M$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,963

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9103$2,9504$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 3705 Copperwood Drive Richardson, TX 2
    • 4 beds 4 baths ∙ 4,144 Sqft ∙ Built 1998 4 beds 4 baths ∙ 4,144 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $0.70
    •  
  • 4276 Crestfield Drive Richardson, TX 1
    • 5 beds 4 baths ∙ 4,256 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,256 Sqft ∙ Built 2003
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.68
    •  
  • 3117 Cedar Ridge Drive Richardson, TX 3
    • 5 beds 4 baths ∙ 4,133 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,133 Sqft ∙ Built 2001
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.71
    •  
  • 2901 Glenwood Springs Court Richardson, TX 4
    • 4 beds 5 baths ∙ 4,289 Sqft ∙ Built 2000 4 beds 5 baths ∙ 4,289 Sqft ∙ Built 2000
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.70
    •  
  • 608 Dividend Avenue Plano, TX 5
    • 5 beds 4 baths ∙ 3,878 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,878 Sqft ∙ Built 2013
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Robert Michael
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504141
Last Updated: 01/22/2021
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