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4572 Firewheel Drive Plano, TX 75024

4 Beds 4 Baths 3,621 sqft Built 2009

$560,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $154.65
  • 2 Days on Market
  • MLS # : 14481133
  • Updated Date : 12/05/2020 at 20:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,621 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

AMAZING CUSTOM HOME IN PRIME LOCATION! Minutes from Stonebriar Mall, Legacy West, access to 121 and North Texas Tollway. This is a rare buying opportunity for someone seeking unparalleled convenience. Be close to Steindam Park, shopping, dining and entertainment. Loaded with upgrades, this impressive retreat is as beautiful as it is spacious - complete with home office, game room, home theatre, 4 bedrooms and 4 baths. Step in and be greeted by sprawling hardwood floors, high ceilings, a stunning iron staircase and designer touches throughout. The kitchen is a chefs dream with upgraded cabinets, granite counters, SS appliances and gas cooktop. Located in the top-rated Frisco ISD! Come and see for yourself!

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

Neighborhood: Deerfield North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $123k686k

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

Neighborhood: Deerfield North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263467

* 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
Jessie Marie Riddle Elementary School Primary Regular 753 42 8
Pat And Catherine Fowler Middle School Middle Regular 1,001 67 10
Lebanon Trail High School High Regular NA

Jessie Marie Riddle Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
8
GreatSchools Rating

Pat And Catherine Fowler Middle School

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

Lebanon Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,066
Property Tax -$953
Property Insurance -$236
HOA -$38
Property Management Fees -$99
CASH FLOW
-$342

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.

$560,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.54%

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) 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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$8,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,060

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9953$3,0504$3,2005$3,395
$3,395
RENT COMPS ANALYSIS
  • 4572 Firewheel Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,621 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,621 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.84
    •  
  • 4561 Risinghill Drive Plano, TX 1
    • 4 beds 5 baths ∙ 3,555 Sqft ∙ Built 2000 4 beds 5 baths ∙ 3,555 Sqft ∙ Built 2000
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.82
    •  
  • 4608 Reunion Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 1994
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.82
    •  
  • 4505 Turnberry Court Plano, TX 4
    • 5 beds 4 baths ∙ 3,762 Sqft ∙ Built 1992 5 beds 4 baths ∙ 3,762 Sqft ∙ Built 1992
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.85
    •  
  • 4513 Firewheel Drive Plano, TX 5
    • 4 beds 5 baths ∙ 3,808 Sqft ∙ Built 2006 4 beds 5 baths ∙ 3,808 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Karola Sajuns
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481133
Last Updated: 12/05/2020
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