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3801 Parkmont Drive Plano, TX 75023

5 Beds 2 Baths 2,288 sqft Built 1988

$285,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $124.56
  • 2 Days on Market
  • MLS # : 14487590
  • Updated Date : 12/19/2020 at 15:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,288 sqft
  • Baths : 2 full
Listing Agent

Texas Premier Realty

Listing Agent's Description

PRICED TO SELL!! Lovely, well maintained move-in ready single-story home with numerous updates in the heart of Plano. Floor plan is perfect for entertaining with just under 2300 total sqft of living space. The open and inviting layout offers 5 bedrooms, 2 full baths, spacious kitchen, formal dining, and a good-sized family room. Kitchen features plenty of cabinet space, granite countertops, and SS appliances. Master suite includes dual sinks, huge walk-in shower with dual shower heads, and walk-in closet. Converted garage can be used as 5th bedroom, game room, den or office. Quiet established neighborhood close to schools, shopping, and entertainment. Don't miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Kemper Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Kemper Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Gulledge Elementary School Primary Regular 615 44 9
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Gulledge Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 44
9
GreatSchools Rating

Robinson Middle School

  • Education Level: Middle
  • # of students: 970
  • # of teachers: 56
9
GreatSchools Rating

Jasper High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,052
Property Tax -$502
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$188

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.

$285,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$35,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0603$2,1004$2,1005$2,295
$2,295
RENT COMPS ANALYSIS
  • 3801 Parkmont Drive Plano, TX 1
    • 5 beds 2 baths ∙ 2,288 Sqft ∙ Built 1988 5 beds 2 baths ∙ 2,288 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 3928 Overlake Drive Plano, TX 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1994
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.93
    •  
  • 3913 Sennen Court Plano, TX 3
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1996
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 3616 Worthington Way Plano, TX 4
    • 4 beds 2 baths ∙ 2,281 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,281 Sqft ∙ Built 1986
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 3905 Overlake Drive Plano, TX 5
    • 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 1992
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lesli Dassonville
Texas Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487590
Last Updated: 12/19/2020
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