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4403 Hearthstone Drive Frisco, TX 75034

3 Beds 3 Baths 2,482 sqft Built 2001

$369,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $148.67
  • 5 Days on Market
  • MLS # : 14524609
  • Updated Date : 03/05/2021 at 12:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,482 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Welcome home to this spacious 3 Bedroom, 2.1 Baths, office and 3 Car Garage, on a corner lot in Stewart Creek Estates in Frisco ISD! Spacious floor plan with 3 large living areas with gas log fireplace, vaulted ceilings, crown molding, surround sound, engineered wood floors, Great entertainment home featuring an eat in Kitchen that opens up to a large private, outdoor patio living area and a large Family room. Energy Star Certified Emerald Home with Radiant roof, Low E windows, 16 Seer AC, new roof, 8 ft privacy fence, many custom cabinets, newly painted. Fabulous location, quiet family neighborhood near major highways walking distance to numerous parks, hiking and bike trails, dog park and many sport fields.

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: Stewart Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Stewart Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
William And Abbie Allen Elementary School Primary Regular 614 39 8
Lamar And Norma Hunt Middle School Middle Unknown NA
Frisco High School High Regular 2,136 146 8

William And Abbie Allen Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 39
8
GreatSchools Rating

Lamar And Norma Hunt Middle School

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

Frisco High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,282
Property Tax -$649
Property Insurance -$171
HOA -$30
Property Management Fees -$99
CASH FLOW
$89

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.

$369,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530$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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,401

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4003$2,5004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 4403 Hearthstone Drive Frisco, TX 1
    • 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.93
    •  
  • 4134 Constitution Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2001
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 3623 Washington Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2004
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
  • 3594 Lincoln Drive Frisco, TX 4
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2001
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 4606 Duval Drive Frisco, TX 5
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2004
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jerry Conklin
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524609
Last Updated: 03/05/2021
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