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5804 Milano Drive Plano, TX 75093

4 Beds 4 Baths 3,001 sqft Built 1996

$535,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $178.27
  • 3 Days on Market
  • MLS # : 14502888
  • Updated Date : 01/23/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,001 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

This STUNNING HOME in the heart of West Plano is Ready for You! This UPDATED custom boasts a sweeping curved staircase, an abundance of natural light, beautiful chandeliers, today's desired colors, and luxury vinyl wood plank flooring throughout the Entire home. Kitchen has been completely remodeled w-sleek cabinetry, light granite counters, stone & glass backsplash, and high-end SS appliances. Kitchen is open to the warm family room, with a stacked stone fireplace. Tranquil downstairs owner's suite is spacious, w-huge bay window & updated bathroom. 3 bedrooms & a large gameroom are up. Relax in the back yard's covered patio w-wood tile flooring, and plenty of yard space for fun! 3-car garage! New roof in 2017.

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: Preston Springs

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k794k

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

Neighborhood: Preston Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263240

* 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
Daffron Elementary School Primary Regular 588 46 7
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Daffron Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 46
7
GreatSchools Rating

Robinson Middle School

  • Education Level: Middle
  • # of students: 970
  • # of teachers: 56
9
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,858
Property Tax -$910
Property Insurance -$201
HOA -$42
Property Management Fees -$99
CASH FLOW
-$520

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.

$535,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,566

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3953$2,4504$2,5905$2,650
$2,650
RENT COMPS ANALYSIS
  • 5804 Milano Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,001 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,001 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.86
    •  
  • 4577 Crown Ridge Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1997
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 4413 Crown Ridge Drive Plano, TX 2
    • 4 beds 4 baths ∙ 2,923 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,923 Sqft ∙ Built 1994
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
  • 4304 Sahara Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1999
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 4532 Crown Ridge Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1996
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Karen Sharp
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502888
Last Updated: 01/23/2021
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