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4232 Wellesley Avenue Frisco, TX 75034

3 Beds 4 Baths 3,008 sqft Built 2016

$615,000

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $204.45
  • 3 Days on Market
  • MLS # : 14481120
  • Updated Date : 12/04/2020 at 08:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,008 sqft
  • Baths : 3 full , 1 half
Listing Agent

Halo Group Realty, Llc

Listing Agent's Description

This immaculate single story open floor plan boasts soaring ceilings, custom beams, luxury carpet, hand scraped wood floors, and upgraded light fixtures throughout. The spacious kitchen offers ample counter space, large pantry, and an oversized island. A home made for entertainment, the outdoor oasis is a dream. Oversized double doors open up to create an open outdoor concept. The primary bedroom shows off cathedral ceilings and spacious closet. Both secondary bedrooms have private ensuite bathrooms. The office features french doors, designer carpet, and tray ceilings. Lengthy driveway and 3 car extended garage paired with an oversized laundry room lined with built-ins. Community amenities are unmatched!

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

Zip Code: 75034

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k469k

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

Zip Code: 75034

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263301

* 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
Vaughn Elementary School Primary Regular NA
Pioneer Heritage Middle School Middle Regular 1,080 67 10
Frisco High School High Regular 2,136 146 8

Vaughn Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Pioneer Heritage Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 67
10
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$553,500$676,500$615,000

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$2,269
Property Tax -$1,082
Property Insurance -$201
HOA -$144
Property Management Fees -$99
CASH FLOW
-$366

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.

$615,000

PROJECTED PRICE

$3,430

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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-$10k-$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$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$9,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $3,046

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,8953$3,1004$3,1005$3,430
$3,430
RENT COMPS ANALYSIS
  • 4232 Wellesley Avenue Frisco, TX 5
    • 3 beds 4 baths ∙ 3,008 Sqft ∙ Built 2016 3 beds 4 baths ∙ 3,008 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $1.14
    •  
  • 4121 Sechrist Drive Frisco, TX 1
    • 3 beds 4 baths ∙ 2,959 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,959 Sqft ∙ Built 2018
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.94
    •  
  • 8473 Tripoli Trail Frisco, TX 2
    • 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 2019
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.00
    •  
  • 4093 Curtiss Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 2,887 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,887 Sqft ∙ Built 2020
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
  • 3597 Harvest Lane Frisco, TX 4
    • 4 beds 4 baths ∙ 2,974 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,974 Sqft ∙ Built 2017
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tiffany Caballero
Halo Group Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481120
Last Updated: 12/04/2020
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