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4025 Mesa Drive Plano, TX 75074

3 Beds 3 Baths 2,364 sqft Built 1982

$332,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $140.44
  • 4 Days on Market
  • MLS # : 14537724
  • Updated Date : 03/27/2021 at 10:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Creekview Realty

Listing Agent's Description

Light and bright home, multiple skylights. Two living spaces, luxury vinyl plank flooring through majority of home, carpets in the bedrooms. 3 Bedroom, 2.1 bath, and bedrooms are grouped together. 2 car garage, ample cabinet storage, bay window eat in kitchen with double oven, private backyard, fireplace is gas log ready, Newly Replaced Low E Double Pane Windows, fresh landscaping. Ring Doorbell, Electronic Deadbolt, and smart thermostat. Near Bob Woodruff park, playground, and walking trails. Walking distance to East Plano HS and Dooley Elementary. Easy access from 75 or Bush. **HIGHEST & BEST DUE ON MARCH 28TH AT 6PM**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,153
Property Tax -$565
Property Insurance -$164
Property Management Fees -$99
CASH FLOW
$9

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.

$332,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9903$2,0954$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4025 Mesa Drive Plano, TX 2
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.84
    •  
  • 2424 San Gabriel Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1983
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 2117 Los Rios Boulevard Plano, TX 3
    • 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 1979
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.94
    •  
  • 1913 Los Rios Plano, TX 4
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1978
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 2329 Felicia Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 1981
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537724
Last Updated: 03/27/2021
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