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3847 Rittenhouse Street Frisco, TX 75034

4 Beds 4 Baths 3,992 sqft Built 2016

$749,900

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $187.85
  • 3 Days on Market
  • MLS # : 14413854
  • Updated Date : 11/13/2020 at 17:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,992 sqft
  • Baths : 4 full
Listing Agent

Briggs Freeman Sotheby's Inter

Listing Agent's Description

Beautiful Drees Home in the Canals at Grand Park. Trending farmhouse style with wrap around front porch and open floor plan make this home perfect for easy family living and entertaining. Kitchen boasts a large center island with countertop seating, gas cooktop and stainless appliances. Study, dining, master plus one bedroom down. Gorgeous hardwood floors, beamed ceilings and plantation shutters. Upstairs media, game room and two bedrooms. Inviting outdoor living area with pool-size yard, extended patio and fireplace make this home casual & welcoming. Three car garage, central vac. Community pool, clubhouse & gym. Exceptional location close to shopping, entertainment & easy access to major highways.

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

Zip Code: 75034

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k469k

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

Zip Code: 75034

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263301

* 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
Vaughn Elementary School Primary Regular NA
Pioneer Heritage Middle School Middle Regular 1,080 67 10
Frisco High School High Regular 2,136 146 8

Vaughn Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Pioneer Heritage Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 67
10
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,767
Property Tax -$1,320
Property Insurance -$258
HOA -$187
Property Management Fees -$99
CASH FLOW
-$1,330

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.

$749,900

PROJECTED PRICE

$3,300

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$15

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $3,323

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,3004$3,3005$3,800
$3,800
RENT COMPS ANALYSIS
  • 3847 Rittenhouse Street Frisco, TX 4
    • 4 beds 4 baths ∙ 3,992 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,992 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.83
    •  
  • 3518 Bellaire Court Frisco, TX 1
    • 5 beds 4 baths ∙ 3,893 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,893 Sqft ∙ Built 2012
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.77
    •  
  • 3339 Country Glen Trail Frisco, TX 2
    • 5 beds 4 baths ∙ 4,036 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,036 Sqft ∙ Built 2010
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.79
    •  
  • 7565 Hidden Cove Lane Frisco, TX 3
    • 4 beds 4 baths ∙ 4,024 Sqft ∙ Built 2010 4 beds 4 baths ∙ 4,024 Sqft ∙ Built 2010
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 8418 Dupont Street Frisco, TX 5
    • 4 beds 5 baths ∙ 4,008 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,008 Sqft ∙ Built 2016
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Maureen Steitle
Briggs Freeman Sotheby's Inter
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413854
Last Updated: 11/13/2020
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