Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4480 Mira Vista Drive Frisco, TX 75034

5 Beds 4 Baths 3,804 sqft Built 1999

$451,200

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $118.61
  • 3 Days on Market
  • MLS # : 14465901
  • Updated Date : 11/06/2020 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,804 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Stunning Vaulted Entry into this 2 story classic David Weekly 5 bedroom home. Study w glass double doors, lovely hardwood flooring, art niche, and large dining to the right greets you! Kitchen upgrades include granite counters, island cooktop, HUGE breakfast bar, convection oven as well as built in wall oven and microwave, stunning travertine flooring. Master upgrades include gorgeous separate shower, garden tub and dual sink bowls, and an amazing custom closet system! 2nd bedroom downstairs, 3 additional beds up. Flex room at top of stairs. Community Elementary is in walking distance, convenient to so many Frisco Star businesses and shopping, restaurants, DNT, 121. HOA amenities include pool & Tennis Academy.

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: The Lakes on Legacy Drive

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: The Lakes on Legacy Drive

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263428

* 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
 

$406,080$496,320$451,200

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$1,665
Property Tax -$807
Property Insurance -$247
HOA -$54
Property Management Fees -$99
CASH FLOW
$228

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.

$451,200

PROJECTED PRICE

$3,100

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.0%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,318

INVESTMENT

$125,318

Down Payment
$112,800
Rehab Estimate
$5,750
Closing Costs
$6,768

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,665

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,800
Loan Amount $338,400
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$46,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,376

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$3,1004$3,5995$3,700
$3,700
RENT COMPS ANALYSIS
  • 4480 Mira Vista Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 3,804 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,804 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
  • 4205 Victory Drive Frisco, TX 1
    • 4 beds 3 baths ∙ 3,613 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,613 Sqft ∙ Built 2000
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
  • 4817 Glen Heather Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 3,747 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,747 Sqft ∙ Built 2005
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.80
    •  
  • 4871 Voyager Drive Frisco, TX 4
    • 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2000
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,599
    • $0.92
    •  
  • 4669 Liam Drive Frisco, TX 5
    • 5 beds 4 baths ∙ 3,647 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,647 Sqft ∙ Built 2002
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Mandy Brock
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465901
Last Updated: 11/06/2020
BESbswy