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53 Mill Pond Drive Frisco, TX 75034

3 Beds 3 Baths 2,938 sqft Built 2002

$525,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $178.69
  • 6 Days on Market
  • MLS # : 14457751
  • Updated Date : 10/29/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,938 sqft
  • Baths : 2 full , 1 half
Listing Agent

Frisco Home Center

Listing Agent's Description

Showings can begin Oct 30 after 12:30. This is a highly appointed, beautifully updated hm in the gated community of Willow Pond. It features custom faux finishes along w custom cabinetry. The chef inspired kitchen boasts gorgeous custom granite, Thermador dishwasher & Wolf stove top & vented hood. The backyard offers privacy w a fire pit, heated spa & pool w swim jets. Enjoy the 6-hole par-3 pitch & putt course plus four glistening ponds w water falls and fountains. This is a remarkable lifestyle home...whether walking the pond, cooking, sitting around the fire pit or enjoying the pool & spa. The home is in the heart of Frisco...minutes from The Star, Legacy West, Stonebriar Mall, 121 & the Dallas North Toll.

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: Willow Pond

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k528k

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

Neighborhood: Willow Pond

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262988

* 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
Otis Spears Elementary School Primary Regular 764 43 8
Lamar And Norma Hunt Middle School Middle Regular 785 54 NA
Frisco High School High Regular 2,136 146 8

Otis Spears Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 43
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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,937
Property Tax -$1,041
Property Insurance -$197
HOA -$135
Property Management Fees -$99
CASH FLOW
-$569

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.

$525,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.0%
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-$15k-$10k-$5.0k$0.0$5.0k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,688

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,5003$2,6504$2,8405$2,850
$2,850
RENT COMPS ANALYSIS
  • 53 Mill Pond Drive Frisco, TX 4
    • 3 beds 3 baths ∙ 2,938 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,938 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $0.97
    •  
  • 9503 Enmore Lane Frisco, TX 1
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1995
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.87
    •  
  • 72 Emerald Pond Drive Frisco, TX 2
    • 3 beds 3 baths ∙ 2,929 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,929 Sqft ∙ Built 2001
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 69 Cattail Pond Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 2,745 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,745 Sqft ∙ Built 2003
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.97
    •  
  • 89 Cattail Pond Drive Frisco, TX 5
    • 3 beds 3 baths ∙ 2,937 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,937 Sqft ∙ Built 2002
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Sammy Gardner
Frisco Home Center
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457751
Last Updated: 10/29/2020
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