Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4649 Parnell Lane Plano, TX 75024

4 Beds 3 Baths 2,442 sqft Built 1996

INVESTimate

$359,000

List Price

$2,150

$1,935 - $2,365

Rent Est.

$375,299  ( +4.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $147.01
  • 7 Days on Market
  • MLS # : 14415357
  • Updated Date : 08/20/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,442 sqft
  • Baths : 2 full , 1 half
Listing Agent

Easy Life Realty

Listing Agent's Description

Welcome home to this lovely property in the highly sought after Plano ISD. With no HOA, it sits in a prime location & pride of home ownership shows in this one. Features include hardwood floors, an open layout with the main living room to the kitchen with stainless steel appliances..all newly replaced carpet upstairs, partial bathroom remodels throughout, all fresh exterior paint, & interior walls painted...Enjoy the pecan tree out front, or the raised garden beds outback and many other fruit trees already established...pomegranate, pear, dates...take your 'pick'. Use the 4th bedroom downstairs as an office, or flex room next to the second living area, & formal dining room. This feels like home...call it yours.

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: Wellington Run

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Wellington Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Gulledge Elementary School Primary Regular 615 44 9
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Gulledge Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 44
9
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,325
Property Tax -$611
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
-$53

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.

$359,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2504$2,3995$2,400
$2,400
RENT COMPS ANALYSIS
  • 4649 Parnell Lane Plano, TX 2
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 4512 Crown Ridge Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1995
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 4624 Spencer Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.95
    •  
  • 4677 Wales Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 1996
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.93
    •  
  • 4652 Knoll Hollow Trail Plano, TX 5
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1994
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Heather Mccallister
Easy Life Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415357
Last Updated: 08/20/2020
BESbswy