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4805 Thorntree Drive Plano, TX 75024

3 Beds 2 Baths 1,931 sqft Built 1988

$354,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $183.79
  • 3 Days on Market
  • MLS # : 14504806
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Beautiful DRIVE UP ON THIS SINGLE STORY W_ PAINTED BRICK! Fabulous flr plan w_ 2 LAs. This charming home has DR_LR combo w-Built ins. Den with corner FP, shiplap wall w_ windows viewing backyard. KIT has decorative C-Tile and STAINLESS APPLs, granite counters, backsplash, Tract lighting, wine rack. 2 inch blinds. Designer Front Door w_ updated hardware. Big MSTR bath w_ large shower, decorator tile. Dble sinks, granite and updated fixtures. WIC w_ closet system. Speakers in some rooms and on patio. Carpet in FAM RM 2019, Garage has fresh paint w_ epoxy flrs 2019. CFs, Steel post fence. Beautiful Oak tree and private landscaped backyard, covered patio. Sprinkler sys. Minutes from Shops of Legacy and Legacy West!

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: Preston Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Preston Bend

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
Haun Elementary School Primary Regular 501 38 8
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Haun Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 38
8
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
 

$319,410$390,390$354,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,233
Property Tax -$604
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
-$164

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.

$354,900

PROJECTED PRICE

$1,910

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$99,799

INVESTMENT

$99,799

Down Payment
$88,725
Rehab Estimate
$5,750
Closing Costs
$5,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,725
Loan Amount $266,175
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$1,9953$2,0004$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 4805 Thorntree Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.99
    •  
  • 4685 Home Place Plano, TX 2
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 4904 Rockcreek Lane Plano, TX 3
    • 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 1995
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 4669 Reunion Drive Plano, TX 4
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1987
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
  • 4912 Justin Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1988
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jeff Coats
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504806
Last Updated: 01/22/2021
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