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4909 Promise Land Drive Frisco, TX 75035

3 Beds 2 Baths 1,722 sqft Built 1988

$250,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $145.18
  • 4 Days on Market
  • MLS # : 14507773
  • Updated Date : 01/29/2021 at 13:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,722 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Multiple offers highest & best by Sunday Jan 31 noon. Single story on tree-lined street in Plantation Resort. Two living areas separated by see through fireplace &wet bar. Lots of windows & skylight provides an abundance of natural light. Split bedrooms with walk in closets. HUGE master suite features double sinks, separate shower & large walk in closet. Enjoy private backyard with BOB fence & deck with pergola. Enjoy community pool, park, playground & greenbelt. Ideal commuter location minutes from Hwy 121. Close to shopping, dining & Baylor Hospital. Served by desirable Frisco ISD Curtsinger El. This property is SOLD AS IS. 4 ton furnace (2020), roof (2017) Be sure to review offer instructions. POF required.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plantation Resort Augusta Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Plantation Resort Augusta Farm

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$868
Property Tax -$531
Property Insurance -$127
HOA -$16
Property Management Fees -$99
CASH FLOW
$189

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.

$250,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$26,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8253$1,8304$1,8455$1,850
$1,850
RENT COMPS ANALYSIS
  • 4909 Promise Land Drive Frisco, TX 3
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.06
    •  
  • 5104 Baton Rouge Boulevard Frisco, TX 1
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1995
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 5300 Promise Land Drive Frisco, TX 2
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1995
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.08
    •  
  • 5205 Baton Rouge Boulevard Frisco, TX 4
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1992
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.09
    •  
  • 5000 Promise Land Drive Frisco, TX 5
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1997
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sharon Allen
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507773
Last Updated: 01/29/2021
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