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5829 Westmont Drive Plano, TX 75093

4 Beds 4 Baths 3,331 sqft Built 1996

INVESTimate

$574,500

List Price

$3,260

$3,010 - $3,510

Rent Est.

$613,394  ( +6.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $172.47
  • 6 Days on Market
  • MLS # : 14415532
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,331 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

Beautiful Huntington Home in the highly sought after West Plano ISD, including Barksdale Elementary. Within walking distance to Coyote Creek Park, the playground, and library, this home offers lots of light with it's 2 story windows and ceilings. Hardwoods floors. Open, flowing floor plan with master down overlooking the refreshing pool. Just in time for summer and move-in ready! Only minutes to George Bush Tollway, Sam Rayburn 121, and the Dallas North Tollway.

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: Glenhollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k788k

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

Neighborhood: Glenhollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263574

* 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
Barksdale Elementary School Primary Regular 629 43 9
Renner Middle School Middle Regular 1,263 73 7
Plano West Senior High School High Regular 2,896 165 7

Barksdale Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 43
9
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
 

$517,050$631,950$574,500

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,120
Property Tax -$977
Property Insurance -$220
HOA -$28
Property Management Fees -$99
CASH FLOW
-$183

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.

$574,500

PROJECTED PRICE

$3,260

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$157,993

INVESTMENT

$157,993

Down Payment
$143,625
Rehab Estimate
$5,750
Closing Costs
$8,618

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,120

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,625
Loan Amount $430,875
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$18,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $3,414

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,260
1$3,2602$3,3003$3,4004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 5829 Westmont Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $0.98
    •  
  • 6529 Sleepy Spring Drive Plano, TX 2
    • 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.00
    •  
  • 5820 Westmont Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.05
    •  
  • 5936 Broadmoor Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,296 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,296 Sqft ∙ Built 1996
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.06
    •  
  • 6104 Birkdale Drive Plano, TX 5
    • 5 beds 4 baths ∙ 3,530 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,530 Sqft ∙ Built 1991
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Tony Garcia
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415532
Last Updated: 08/22/2020
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