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5621 Snowberry Drive Plano, TX 75094

5 Beds 4 Baths 3,525 sqft Built 2020

$699,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $198.55
  • 2 Days on Market
  • MLS # : 14518426
  • Updated Date : 02/13/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,525 sqft
  • Baths : 4 full
Listing Agent

Fathom Realty

Listing Agent's Description

Gorgeous neighborhood lined w a meandering, wooded creek welcomes you to this beautiful family home w open plan in conveniently located Heritage Ridge near Firewheel Town Center, great restaurants & golf! Spacious home has 5 bedrooms & 3 livings including a vaulted family room, formals, butlers pantry, game room & media. Gourmet kitchen has 42 inch cabinets, 5 burner gas cooktop, stainless steel appliances & large island. Cast stone FP, 8 ft doors down & sweeping curved staircase w wood treads. Downstairs features Master Suite w garden tub, dual vanities & walk-in closets as well as Guest Suite or Home Office. Energy Star certified makes efficient home & low utility bills. Won't last!

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: Murphy

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k390k

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

Neighborhood: Murphy

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262566

* 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
Dooley Elementary School Primary Regular 401 35 6
Armstrong Middle School Middle Regular 681 55 5
Mcmillen High School High Regular 1,088 70 8

Dooley Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 35
6
GreatSchools Rating

Armstrong Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 55
5
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,431
Property Tax -$1,191
Property Insurance -$231
HOA -$75
Property Management Fees -$99
CASH FLOW
-$1,447

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$699,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,474

INVESTMENT

$187,474

Down Payment
$174,975
Rehab Estimate
$2,000
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$74

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5804$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 5621 Snowberry Drive Plano, TX 3
    • 5 beds 4 baths ∙ 3,525 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,525 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.73
    •  
  • 136 Merideth Drive Murphy, TX 1
    • 4 beds 3 baths ∙ 3,347 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,347 Sqft ∙ Built 2001
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.72
    •  
  • 6012 Sargent Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,517 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,517 Sqft ∙ Built 2002
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.68
    •  
  • 5901 Logan Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,398 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,398 Sqft ∙ Built 2002
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
  • 5713 Saint Thomas Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2005
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.73
    •  
PROPERTY LISTING DETAILS
Sherri Burlison
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518426
Last Updated: 02/13/2021
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