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4867 Corinthian Bay Drive Frisco, TX 75034

4 Beds 4 Baths 3,455 sqft Built 2000

$510,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $147.61
  • 4 Days on Market
  • MLS # : 14511838
  • Updated Date : 02/06/2021 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,455 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Wow, this is the home you have been waiting for! This stunning home has tons of upgrades including wood like tile floors, wood floors, granite countertops & much more. Downstairs you will find a private study, a formal living & dining room, a spacious family room, a huge kitchen with wonderful upgrades including white cabinets, a spacious utility room with a sink. The master bedroom & beautiful master bathroom along with a guest bedroom & full bathroom are also downstairs. Upstairs you will find 2 additional bedrooms equipped with a Jack & Jill bathroom along with a game room & media room. Outside you will love the covered patio & 3 car garage. Do not miss out on this one!

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: Estates on Legacy Drive

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k595k

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

Neighborhood: Estates on Legacy Drive

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263584

* 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
William And Abbie Allen Elementary School Primary Regular 614 39 8
Lamar And Norma Hunt Middle School Middle Regular 785 54 NA
Frisco High School High Regular 2,136 146 8

William And Abbie Allen Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 39
8
GreatSchools Rating

Lamar And Norma Hunt Middle School

  • Education Level: Middle
  • # of students: 785
  • # of teachers: 54
NA
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,771
Property Tax -$898
Property Insurance -$227
HOA -$58
Property Management Fees -$99
CASH FLOW
-$162

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.

$510,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$11,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,980

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8503$2,8904$2,9505$3,700
$3,700
RENT COMPS ANALYSIS
  • 4867 Corinthian Bay Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 3,455 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,455 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.84
    •  
  • 3731 Charter Drive Frisco, TX 1
    • 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.80
    •  
  • 4163 Victory Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 3,471 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,471 Sqft ∙ Built 2002
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.82
    •  
  • 4205 Victory Drive Frisco, TX 4
    • 4 beds 3 baths ∙ 3,613 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,613 Sqft ∙ Built 2000
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
  • 4669 Liam Drive Frisco, TX 5
    • 5 beds 4 baths ∙ 3,647 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,647 Sqft ∙ Built 2002
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Alexa Goodman
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511838
Last Updated: 02/06/2021
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