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4613 Forest Park Road Plano, TX 75024

3 Beds 2 Baths 2,102 sqft Built 2000

$379,990

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $180.78
  • 2 Days on Market
  • MLS # : 14475612
  • Updated Date : 11/28/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 2 full
Listing Agent

Bian Realty

Listing Agent's Description

New Roof, New Paint, New Carpet. Opportunity to own a stunning 1 story home in the vicinity of Stonebriar Mall-The shops at Legacy- strip-Ford Center at The Star shopping strip and Legacy West shopping.

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

Neighborhood: Villages of Preston Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k392k

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

Neighborhood: Villages of Preston Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262244

* 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
 

$341,991$417,989$379,990

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,402
Property Tax -$647
Property Insurance -$149
HOA -$21
Property Management Fees -$99
CASH FLOW
-$357

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.

$379,990

PROJECTED PRICE

$1,960

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,447

INVESTMENT

$106,447

Down Payment
$94,998
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,998
Loan Amount $284,993
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9603$1,9954$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 4613 Forest Park Road Plano, TX 2
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.93
    •  
  • 7902 Country Ridge Lane Plano, TX 1
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.84
    •  
  • 4685 Home Place Plano, TX 3
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 4717 Rockcreek Lane Plano, TX 4
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 1996
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 4669 Reunion Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kurosh Bian
Bian Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475612
Last Updated: 11/28/2020
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