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4121 Midnight Drive Plano, TX 75093

4 Beds 2 Baths 1,821 sqft Built 1980

$350,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $192.20
  • 3 Days on Market
  • MLS # : 14525862
  • Updated Date : 03/05/2021 at 20:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,821 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

Highly sought after location in PLANO!! Living-Dinning layout is perfect for entertaining. Stunning master bathroom renovation just done with separate vanities and closets, gorgeous walk in shower. Great floor plan with the 4th bedroom being able to open up to the master bedroom; great for an office, nursery, or sitting area. Bright galley kitchen and inviting inground POOL make this home even more perfect for making memories.

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: Shadow Run

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Shadow Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Hightower Elementary School Primary Regular 549 39 9
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Hightower Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 39
9
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,216
Property Tax -$596
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
-$63

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.

$350,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$5.0k$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8753$1,9804$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 4121 Midnight Drive Plano, TX 3
    • 4 beds 2 baths ∙ 1,821 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,821 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.09
    •  
  • 4116 Midnight Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1979
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 4432 Ringgold Lane Plano, TX 2
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1980
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.07
    •  
  • 2717 Donnington Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 2308 Twilight Circle Plano, TX 5
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1980
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Bethanne Carter
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525862
Last Updated: 03/05/2021
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