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5821 Steeplechase Drive Plano, TX 75093

4 Beds 4 Baths 3,305 sqft Built 1991

$505,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $152.80
  • 2 Days on Market
  • MLS # : 14481861
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,305 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Beautiful 4 bedroom custom home located on treed corner lot with newer 8ft board on board privacy fence. Offering 3 living areas, 1 bedroom with private bath downstairs and 3 bedrooms upstairs. Main Living area has vaulted ceilings with beautiful fireplace and a wall of windows facing backyard. L shaped eat in kitchen with lots of cabinets, walk in pantry opens to living area and views backyard. Take a walk or run around treed lined neighborhood to the local park. Recent updates include 2 gas water heaters, exterior and interior paint, garage door opener, backyard lighting, upstairs furnace and AC condenser. So close to great shopping, restaurants & easy access to highways and tolls. Fantastic location!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k795k

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

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263597

* 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
Huffman Elementary School Primary Regular 514 36 3
Renner Middle School Middle Regular 1,263 73 7
Plano West Senior High School High Regular 2,896 165 7

Huffman Elementary School

  • Education Level: Primary
  • # of students: 514
  • # of teachers: 36
3
GreatSchools Rating

Renner Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 73
7
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$1,863
Property Tax -$859
Property Insurance -$218
HOA -$47
Property Management Fees -$99
CASH FLOW
$94

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.

$505,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$37,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,445

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0953$3,1454$3,1805$3,795
$3,795
RENT COMPS ANALYSIS
  • 5821 Steeplechase Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $0.96
    •  
  • 5908 Pebblestone Lane Plano, TX 1
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 1996
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.00
    •  
  • 5707 Willow Wood Lane Dallas, TX 2
    • 4 beds 5 baths ∙ 2,997 Sqft ∙ Built 1992 4 beds 5 baths ∙ 2,997 Sqft ∙ Built 1992
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.03
    •  
  • 5916 Pebblestone Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 1992
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $1.01
    •  
  • 1637 Glen Springs Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,353 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,353 Sqft ∙ Built 1991
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.13
    •  
PROPERTY LISTING DETAILS
Deborah Hayes
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 #: 14481861
Last Updated: 12/05/2020
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