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4047 Edgewater Court Richardson, TX 75082

4 Beds 4 Baths 3,440 sqft Built 2013

$627,795

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $182.50
  • 3 Days on Market
  • MLS # : 14532314
  • Updated Date : 03/12/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,440 sqft
  • Baths : 3 full , 1 half
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

Toll Brothers quality built home.A circular entry hall, accented with decorative art niches, opens to an exquisite two-story foyer,and a private study with double doors. Features include wood flooring through-out, a Stone fireplace, granite countertops, gas cooktop heavy-duty kitchen vent, and stainless steel appliances.The delightful kitchen features a breakfast bar, pantry, and adjacent sunlit breakfast area with a door to a covered porch with a spectacular wooded view and creek.The First floor master bedroom suite includes a tray ceiling and double-door entry to a secluded master bath with soaking tub, glass-block windows, walk-in closet, and glass-enclosed shower.4th B-R doubles as a game room if you prefer

SEE MORE

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: Bridgewater Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k584k

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

Neighborhood: Bridgewater Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262883

* 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
Stinson Elementary School Primary Regular 593 43 9
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Stinson Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 43
9
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$565,016$690,575$627,795

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,181
Property Tax -$1,161
Property Insurance -$226
HOA -$225
Property Management Fees -$99
CASH FLOW
-$901

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.

$627,795

PROJECTED PRICE

$2,990

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,116

INVESTMENT

$172,116

Down Payment
$156,949
Rehab Estimate
$5,750
Closing Costs
$9,417

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,949
Loan Amount $470,846
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,019

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$2,9903$3,0004$3,1005$3,150
$3,150
RENT COMPS ANALYSIS
  • 4047 Edgewater Court Richardson, TX 2
    • 4 beds 4 baths ∙ 3,440 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,440 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.87
    •  
  • 3934 Clear Creek Court Richardson, TX 1
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2010
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.85
    •  
  • 4917 Mulholland Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2018
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.85
    •  
  • 801 Aplatan Lane Plano, TX 4
    • 5 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.89
    •  
  • 4221 Crestfield Drive Richardson, TX 5
    • 5 beds 5 baths ∙ 3,415 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,415 Sqft ∙ Built 2003
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ron Pritchett
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532314
Last Updated: 03/12/2021
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