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4904 Clear Lake Drive Frisco, TX 75035

3 Beds 3 Baths 2,384 sqft Built 1998

$425,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $178.27
  • 1 Days on Market
  • MLS # : 14512426
  • Updated Date : 02/07/2021 at 00:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,384 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Love this house! Exceptional property with timeless nailed down hardwood floors throughout as well as current paint colors, updated light fixtures and fresh exterior trim paint. You will enjoy comfortable living with a generous flow of space from the living room that is open to the kitchen, breakfast area and study. Gorgeous kitchen features granite countertops, travertine backsplash, gas cook-top, updated stainless appliances, granite composite sink, plus upper and under counter lighting. Master suite includes sitting area, separate vanities and big walk-in closet. Rare find with 3 car garage, 3 full baths, 3 bedrooms plus study. Complete package with covered patio and 6 ft. board on board fence. Roof 2020

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: Plantation Resort Lake Brook Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Plantation Resort Lake Brook Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Claude Curtsinger Elementary School Primary Regular 624 39 10
Cal And Walt Wester Middle School Middle Regular 878 69 9
Centennial High School High Regular 2,065 138 9

Claude Curtsinger Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 39
10
GreatSchools Rating

Cal And Walt Wester Middle School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 69
9
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,065
  • # of teachers: 138
9
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,476
Property Tax -$842
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$333

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.

$425,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,360

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,2003$2,2504$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 4904 Clear Lake Drive Frisco, TX 3
    • 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 11413 Sunrise Lane Frisco, TX 1
    • 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.94
    •  
  • 5465 Golfside Drive Frisco, TX 2
    • 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2002
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 11968 Cobblestone Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 2000
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 5035 Golfside Drive Frisco, TX 5
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
PROPERTY LISTING DETAILS
Rusty Pierce
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 #: 14512426
Last Updated: 02/07/2021
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