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4508 Refugio Drive Plano, TX 75024

4 Beds 4 Baths 3,400 sqft Built 2021

$606,305

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $178.33
  • 6 Days on Market
  • MLS # : 14500159
  • Updated Date : 01/21/2021 at 11:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,400 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jagjit Singh

Listing Agent's Description

Available in Spring 2021! Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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: 75024

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k457k

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

Zip Code: 75024

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262827

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$545,675$666,936$606,305

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,106
Property Tax -$1,032
Property Insurance -$224
HOA -$65
Property Management Fees -$99
CASH FLOW
-$955

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$606,305

PROJECTED PRICE

$2,570

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$162,671

INVESTMENT

$162,671

Down Payment
$151,576
Rehab Estimate
$2,000
Closing Costs
$9,095

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,106

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $151,576
Loan Amount $454,729
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,601

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,5703$2,5954$2,5955$2,750
$2,750
RENT COMPS ANALYSIS
  • 4508 Refugio Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.76
    •  
  • 4413 White Rock Lane Plano, TX 1
    • 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2001
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.74
    •  
  • 4504 Sandy Water Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,422 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,422 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.76
    •  
  • 4469 Big Sky Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2001
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.76
    •  
  • 8721 Havenwood Trail Plano, TX 5
    • 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2001
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500159
Last Updated: 01/21/2021
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