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4116 Mesa Drive Plano, TX 75074

4 Beds 2 Baths 2,316 sqft Built 1983

$339,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $146.76
  • 3 Days on Market
  • MLS # : 14527575
  • Updated Date : 03/06/2021 at 14:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,316 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Welcome home to this beautifully updated custom home located on a CDS street in Los Rios. Easy to maintain luxury vinyl plank floors installed in 2020. Sought after floor plan with two large living areas and wet bar, perfect for entertaining. Light and bright kitchen with granite, white cabinets and stainless appliances. Master suite tucked in the back of the home with a large, updated ensuite bath. Sunroom, large deck and spacious backyard for outdoor fun! Nice storage building on the side of the home. Move in ready! Roof 3 yrs Great location close to Bob Woodruff Park and trails.**DEADLINE TO SUBMIT OFFERS IS 7PM SUNDAY, MARCH 7TH**

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: 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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,181
Property Tax -$578
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
-$119

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.

$339,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.56%

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

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8903$1,9004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 4116 Mesa Drive Plano, TX 3
    • 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 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
    •  
  • 3916 Palo Duro Drive Plano, TX 2
    • 5 beds 3 baths ∙ 2,126 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,126 Sqft ∙ Built 1980
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.89
    •  
  • 2149 Country Club Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 1913 Los Rios Plano, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Susan Livingston
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527575
Last Updated: 03/06/2021
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