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4421 Kelly Drive Richardson, TX 75082

4 Beds 3 Baths 2,667 sqft Built 2001

INVESTimate

$415,000

List Price

$2,340

$2,106 - $2,574

Rent Est.

$421,765  ( +1.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $155.61
  • 6 Days on Market
  • MLS # : 14418179
  • Updated Date : 08/24/2020 at 16:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,667 sqft
  • Baths : 3 full
Listing Agent

Mason Real Estate Company

Listing Agent's Description

Beautiful, designer home with many custom features and upgrades. Nice open floor plan that promotes great entertaining space. Huge kitchen with granite countertops, professionally painted cabinets, with updated gas cooktop. Real hardwood flooring in living areas. You will love the coffee bar near kitchen. Master Suite includes plenty of seating, Master Bath has separate vanities with jetted garden tub. 2 secondary bedrooms with wood like vinyl flooring. Enjoy the cozy fireplace and living space with friends. New carpet in 3rd bedroom and office-game room space. Plenty of rooms for everyone while staying at home. Great community pool and playground. Location is great with quick access to Geo Bush. Won't last.

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: Mackenzie Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k424k

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

Neighborhood: Mackenzie Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262533

* 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
Schell Elementary School Primary Regular 668 45 8
Otto Middle School Middle Regular 990 66 7
Plano East Senior High School High Regular 2,841 183 8

Schell Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 45
8
GreatSchools Rating

Otto Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 66
7
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,531
Property Tax -$767
Property Insurance -$181
HOA -$47
Property Management Fees -$99
CASH FLOW
-$285

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.

$415,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 1.63%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,327

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,2954$2,3405$2,450
$2,450
RENT COMPS ANALYSIS
  • 4421 Kelly Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.88
    •  
  • 3912 Harlington Lane Richardson, TX 1
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 1997
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 3905 Compton Drive Richardson, TX 2
    • 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1998
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 3306 Parkhurst Lane Richardson, TX 3
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1996
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
  • 700 Herkimer Court Plano, TX 5
    • 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014 4 beds 5 baths ∙ 2,701 Sqft ∙ Built 2014
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Carl Mason
Mason Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418179
Last Updated: 08/24/2020
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