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3709 Randa Drive Plano, TX 75074

3 Beds 2 Baths 1,422 sqft Built 1982

$240,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $168.78
  • 2 Days on Market
  • MLS # : 14504538
  • Updated Date : 03/20/2021 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Please submit off Tuesday, March 23 by 7p. Single story home with spacious living area, kitchen has plenty of cabinets, eat in breakfast nook, wood burning fire place, and faux blinds. Counters through out have splatter finish along with vinyl wood floors and a carpet allowance provided for 3 bedrooms at closing. The backyard has a nice patio deck overlooking a large backyard with a storage shed. This property is located within walking distance of Bob Woodruff Park! Close to schools, entertainment, restaurants, shopping, walking and bike trails and the beautiful Bob Woodruff Dog Park. Seller requests complimentary 45-60 days leaseback.

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: Forman

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $107k370k

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

Neighborhood: Forman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9452224

* 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
Forman Elementary School Primary Regular 553 53 4
Armstrong Middle School Middle Regular 681 55 5
Mcmillen High School High Regular 1,088 70 8

Forman Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 53
4
GreatSchools Rating

Armstrong Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 55
5
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$834
Property Tax -$408
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$230

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$32,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6803$1,6954$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3709 Randa Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.18
    •  
  • 1756 Crystal Way Plano, TX 1
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1973
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 1700 Crystal Way Plano, TX 3
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1973
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.17
    •  
  • 1749 Crystal Way Plano, TX 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1972
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 1464 Larchmont Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1983
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.23
    •  
PROPERTY LISTING DETAILS
Shannon Moneymaker Bartek
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504538
Last Updated: 03/20/2021
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