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4516 Salerno Circle Plano, TX 75093

4 Beds 4 Baths 3,784 sqft Built 1992

$570,000

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $150.63
  • 2 Days on Market
  • MLS # : 14481960
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,784 sqft
  • Baths : 4 full
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

A stunning north-east facing Plano ISD home in West Plano neighborhood! Open floor plan, light, bright and airy ~ perfect for entertaining. Huge Master! Beautiful wood floors flow through the living areas for a seamless touch. Kitchen is stunning with an island and granite counters. Family room, breakfast room and kitchen are open and a great place for friends and family to gather. Beautiful custom pool is perfect for beating the summer heat. On a premier street of Preston Springs. Hurry, don't miss this rare opportunity.

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: Preston Springs

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k794k

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

Neighborhood: Preston Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263240

* 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
Daffron Elementary School Primary Regular 588 46 7
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Daffron Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 46
7
GreatSchools Rating

Robinson Middle School

  • Education Level: Middle
  • # of students: 970
  • # of teachers: 56
9
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$513,000$627,000$570,000

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$2,103
Property Tax -$978
Property Insurance -$246
HOA -$42
Property Management Fees -$99
CASH FLOW
-$38

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.

$570,000

PROJECTED PRICE

$3,430

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$29,901

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,670

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4303$3,7004$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 4516 Salerno Circle Plano, TX 2
    • 4 beds 4 baths ∙ 3,784 Sqft ∙ Built 1992 4 beds 4 baths ∙ 3,784 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $0.91
    •  
  • 3900 Mallow Court Plano, TX 1
    • 4 beds 5 baths ∙ 3,704 Sqft ∙ Built 1996 4 beds 5 baths ∙ 3,704 Sqft ∙ Built 1996
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.86
    •  
  • 4537 Salerno Circle Plano, TX 3
    • 4 beds 3 baths ∙ 4,039 Sqft ∙ Built 1986 4 beds 3 baths ∙ 4,039 Sqft ∙ Built 1986
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.92
    •  
  • 4204 Lorimar Drive Plano, TX 4
    • 5 beds 4 baths ∙ 4,004 Sqft ∙ Built 1997 5 beds 4 baths ∙ 4,004 Sqft ∙ Built 1997
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.05
    •  
  • 4401 Denham Way Plano, TX 5
    • 5 beds 4 baths ∙ 4,085 Sqft ∙ Built 1990 5 beds 4 baths ∙ 4,085 Sqft ∙ Built 1990
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nitin Gupta
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481960
Last Updated: 12/12/2020
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