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4500 Springhill Estate Drive Parker, TX 75002

4 Beds 5 Baths 4,271 sqft Built 1999

$724,900

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $169.73
  • 1 Days on Market
  • MLS # : 14532481
  • Updated Date : 03/13/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,271 sqft
  • Baths : 4 full , 1 half
Listing Agent

Dfw Home

Listing Agent's Description

4271 sf house with 4 bedrooms, 4 full bathrooms, one half bathrooms. 3 car garage. 3.3 acres lot in Springhill Estates. The house is roomy. Two living area downstairs. One living area in the second floor. Two stairs to go to the second floor. Three car garage. You can see your own bridge in the back yard. Easy to access road. AC, roof were replaced two or three years ago. NO horses allowed by HOA. The house will be sold as is. The seller will release $15000 credit for repair. You can do everything by your own way.

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

Zip Code: 75002

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Zip Code: 75002

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* 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
Hickey Elementary School Primary Regular 567 45 6
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Hickey Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 45
6
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

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

$652,410$797,390$724,900

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,518
Property Tax -$1,184
Property Insurance -$274
HOA -$34
Property Management Fees -$99
CASH FLOW
-$869

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.

$724,900

PROJECTED PRICE

$3,240

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,064

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,9504$3,1005$3,240
$3,240
RENT COMPS ANALYSIS
  • 4500 Springhill Estate Drive Parker, TX 5
    • 4 beds 5 baths ∙ 4,271 Sqft ∙ Built 1999 4 beds 5 baths ∙ 4,271 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $0.76
    •  
  • 4209 Tall Oak Lane Plano, TX 1
    • 5 beds 4 baths ∙ 4,127 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,127 Sqft ∙ Built 2004
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.68
    •  
  • 6521 Oceanview Plano, TX 2
    • 5 beds 4 baths ∙ 4,219 Sqft ∙ Built 2016 5 beds 4 baths ∙ 4,219 Sqft ∙ Built 2016
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.69
    •  
  • 3617 Sparkling Drive Plano, TX 3
    • 5 beds 5 baths ∙ 4,169 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,169 Sqft ∙ Built 2015
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.71
    •  
  • 3900 Rockwood Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,949 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,949 Sqft ∙ Built 2002
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ling Kong
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532481
Last Updated: 03/13/2021
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