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3920 Bandera Drive Plano, TX 75074

4 Beds 3 Baths 2,859 sqft Built 1983

$385,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $134.66
  • 2 Days on Market
  • MLS # : 14498158
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,859 sqft
  • Baths : 3 full
Listing Agent

Algonquin Properties

Listing Agent's Description

This beautifully remodeled 1 & half story custom hm w tons of upgrades in the established Los Rios subdivision offers 4*or 5*beds, 3 full baths & features kitchen w granite, under cab lites, island w storage & electric, corner sink w window & plenty of prep space! Kitchen-Aid stainless appliances*incl fridge*remain w property. The lg mstr ste w access to 2nd lvg or ofc & 2 additional beds down; PLUS upstairs is split into a cozy lvg space & 2 beds, which incl a full bath w dual sinks & WIC-great for MIL or kids! Util has wall of cabs & drip dry area. Covered patio & extended space for outdoor entertaining. NO POPCORN CEILINGS!! Lots of storage thruout! Too much to list here-MUST SEE! Ck out UPDATES LIST in MLS!

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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: Los Rios

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Los Rios

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
Dooley Elementary School Primary Regular 401 35 6
Armstrong Middle School Middle Regular 681 55 5
Mcmillen High School High Regular 1,088 70 8

Dooley Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 35
6
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,337
Property Tax -$655
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$54

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.

$385,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$14,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,309

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2303$2,3004$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3920 Bandera Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.78
    •  
  • 474 Lakefield Drive Murphy, TX 1
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4301 Lavaca Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 1991
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 2229 Molly Lane Plano, TX 4
    • 4 beds 3 baths ∙ 2,986 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,986 Sqft ∙ Built 1994
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 3105 Springbranch Drive Richardson, TX 5
    • 4 beds 4 baths ∙ 3,180 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,180 Sqft ∙ Built 2001
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Diane Mueller
Algonquin Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498158
Last Updated: 02/06/2021
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