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4138 Honor Drive Frisco, TX 75034

5 Beds 4 Baths 3,421 sqft Built 2003

$475,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $138.85
  • 3 Days on Market
  • MLS # : 14512612
  • Updated Date : 02/26/2021 at 18:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,421 sqft
  • Baths : 4 full
Listing Agent

2415 Realty

Listing Agent's Description

Everything you could want or need in a home located in the desirable Heritage Lakes gated community. Downstairs is the master bedroom and another bedroom with full bathroom perfect for visitors. You also have a place perfect for an office, formal dining, beautiful kitchen which looks out onto the living room with vaulted ceilings and windows that reach from the ceiling to the floor letting in tons of natural light. Upstairs features 3 more bedrooms with a private game room with its own staircase. Heritage Lakes features 3 pools with a lazy river, golf, walking trails by ponds, playgrounds, club house with planned events, fitness area, and more. See supplements for a full list of amenities and updates.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k446k

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

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262798

* 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
Hicks Elementary School Primary Regular 615 43 9
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Hicks Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 43
9
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$1,650
Property Tax -$836
Property Insurance -$225
HOA -$238
Property Management Fees -$99
CASH FLOW
-$278

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.

$475,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,737

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$2,7704$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 4138 Honor Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 3,421 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,421 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.81
    •  
  • 3731 Charter Drive Frisco, TX 1
    • 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.80
    •  
  • 3466 Washington Drive Frisco, TX 2
    • 5 beds 4 baths ∙ 3,553 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,553 Sqft ∙ Built 2005
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.76
    •  
  • 3401 Nation Drive Frisco, TX 4
    • 5 beds 4 baths ∙ 3,577 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,577 Sqft ∙ Built 2004
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.80
    •  
  • 4443 Voyager Drive Frisco, TX 5
    • 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 2000
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kenny Conoley
2415 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512612
Last Updated: 02/26/2021
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