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4569 Refugio Drive Plano, TX 75024

3 Beds 2 Baths 2,173 sqft Built 2019

INVESTimate

$444,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$477,522  ( +7.55%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Built In 2019
  • Price/Sqft : $204.33
  • 10 Days on Market
  • MLS # : 14415058
  • Updated Date : 08/25/2020 at 08:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,173 sqft
  • Baths : 2 full
Listing Agent

Jagjit Singh

Listing Agent's Description

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 through August 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.

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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

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ruth Borchardt Elementary School Primary Regular 727 42 10
Pat And Catherine Fowler Middle School Middle Regular 1,001 67 10
Liberty High School High Regular 2,039 137 9

Ruth Borchardt Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 42
10
GreatSchools Rating

Pat And Catherine Fowler Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 67
10
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$399,600$488,400$444,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,638
Property Tax -$755
Property Insurance -$153
HOA -$42
Property Management Fees -$99
CASH FLOW
-$637

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.

$444,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.55%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,660

INVESTMENT

$119,660

Down Payment
$111,000
Rehab Estimate
$2,000
Closing Costs
$6,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,000
Loan Amount $333,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9904$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 4569 Refugio Drive Plano, TX 5
    • 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 4428 Ridge Point Lane Plano, TX 1
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2001
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 4337 Waskom Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2001
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 4424 Caledonia Creek Lane Plano, TX 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2002
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.86
    •  
  • 4429 Waskom Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2001
    property image
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
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 #: 14415058
Last Updated: 08/25/2020
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