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4545 New Orleans Drive Plano, TX 75093

3 Beds 2 Baths 1,693 sqft Built 1981

$300,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $177.20
  • 3 Days on Market
  • MLS # : 14481268
  • Updated Date : 12/04/2020 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

This well maintained home has had many beautiful updates! Kitchen features stainless appliances and granite countertops. Spacious living room features fireplace and wet-bar perfect for entertaining. Plenty of space in the Master bedroom with dual sinks in master bathroom and a walk-in closet. Garage has epoxy flooring and there is an extra wide driveway. 2019 water heater replaced. 2017 both bathroom cabinets replaced. 2016 kitchen cabinets replaced. Roof replaced in 2016. 2015 kitchen appliances and HVAC replaced. 2014 Fence replaced

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75093

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k786k

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

Zip Code: 75093

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263338

* 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
Weatherford Elementary School Primary Regular 484 42 5
Wilson Middle School Middle Regular 877 62 6
Plano Senior High School High Regular 2,766 155 9

Weatherford Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 42
5
GreatSchools Rating

Wilson Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 62
6
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,107
Property Tax -$510
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$169

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.

$300,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9753$1,9954$2,0005$2,010
$2,010
RENT COMPS ANALYSIS
  • 4545 New Orleans Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.19
    •  
  • 1409 Exeter Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1988
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 1409 Kittery Plano, TX 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1987
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.23
    •  
  • 1428 Kittery Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1986
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 1332 Kittery Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1989
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.31
    •  
PROPERTY LISTING DETAILS
Lisa Welch
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481268
Last Updated: 12/04/2020
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