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3812 Solarium Place Plano, TX 75075

4 Beds 3 Baths 2,573 sqft Built 1982

$425,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $165.18
  • 3 Days on Market
  • MLS # : 14516762
  • Updated Date : 02/12/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,573 sqft
  • Baths : 3 full
Listing Agent

Real Broker, Llc

Listing Agent's Description

Beautifully updated 4 bedroom, 3 bath single story home nestled in the River Bend subdivision. You will feel right at home the moment you enter the foyer leading you into the large living room complete with vaulted ceilings, wet bar and cozy fireplace. Picture yourself cooking for friends and family in the gourmet kitchen boasting granite countertops, SS appliances and breakfast bar opening up to the family room - perfect for entertaining. Spacious Master Suite includes the updated bath with separate vanities, soaking tub, separate shower and huge walk in closet. Secondary bedrooms share the 2 updated guest baths. Relax on the back patio overlooking the sparking pool and private backyard.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: River Bend West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: River Bend West

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
Saigling Elementary School Primary Regular 368 30 7
Haggard Middle School Middle Regular 860 53 7
Plano Senior High School High Regular 2,766 155 9

Saigling Elementary School

  • Education Level: Primary
  • # of students: 368
  • # of teachers: 30
7
GreatSchools Rating

Haggard Middle School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 53
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,476
Property Tax -$723
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
-$134

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.

$425,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$11,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,341

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3403$2,3494$2,3955$2,450
$2,450
RENT COMPS ANALYSIS
  • 3812 Solarium Place Plano, TX 2
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.91
    •  
  • 4105 Prospect Lane Plano, TX 1
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1981
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 4217 Polstar Drive Plano, TX 3
    • 4 beds 4 baths ∙ 2,449 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,449 Sqft ∙ Built 1983
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,349
    • $0.96
    •  
  • 3525 Appalachian Court Plano, TX 4
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1979
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 3620 Teakwood Lane Plano, TX 5
    • 4 beds 2 baths ∙ 2,699 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,699 Sqft ∙ Built 1980
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Patricia Ann Young
Real Broker, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516762
Last Updated: 02/12/2021
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