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5848 Palomino Drive Frisco, TX 75034

3 Beds 2 Baths 1,865 sqft Built 2000

$292,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.05
  • 2 Days on Market
  • MLS # : 14485575
  • Updated Date : 12/12/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

Wonderful one story in Frisco ISD that is move-in ready. New luxury vinyl plank flooring in formal living and dining rooms, family room and hallway. New carpet in bedrooms. New interior paint throughout. Kitchen and breakfast nook open to living room with gas fireplace and views on the backyard. Master has dual sinks, garden tub and separate shower with walk-in closet in the bedroom. Fully fenced in backyard, sprinkler and security systems. Roof replaced May 2019.

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: Sterling Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Sterling Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Ida Lee Bright Elementary School Primary Regular 551 37 3
Benton A. Staley Middle School Middle Regular 715 60 7
Frisco High School High Regular 2,136 146 8

Ida Lee Bright Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 37
3
GreatSchools Rating

Benton A. Staley Middle School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 60
7
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$263,610$322,190$292,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,081
Property Tax -$581
Property Insurance -$135
HOA -$29
Property Management Fees -$99
CASH FLOW
-$114

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.

$292,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,369

INVESTMENT

$83,369

Down Payment
$73,225
Rehab Estimate
$5,750
Closing Costs
$4,394

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,081

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,225
Loan Amount $219,675
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8103$1,9504$2,1755$2,295
$2,295
RENT COMPS ANALYSIS
  • 5848 Palomino Drive Frisco, TX 2
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.97
    •  
  • 5876 Shetland Circle Frisco, TX 1
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2000
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 5896 Arabian Way Frisco, TX 3
    • 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2000
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 6704 Longhorn Trail Frisco, TX 4
    • 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2000
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.01
    •  
  • 5840 Arabian Way Frisco, TX 5
    • 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2000
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.06
    •  
PROPERTY LISTING DETAILS
Linda Schilz
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 #: 14485575
Last Updated: 12/12/2020
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