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600 Laredo Drive Murphy, TX 75094

5 Beds 4 Baths 3,520 sqft Built 2005

$450,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $127.84
  • 1 Days on Market
  • MLS # : 14471718
  • Updated Date : 11/14/2020 at 20:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,520 sqft
  • Baths : 3 full , 1 half
Listing Agent

Banko Realty

Listing Agent's Description

THIS HOUSE HAS ALL YOU NEED located in a beautiful, quite neighborhood. This 5 Bedrooms 3.1 baths home is extremely well kept, 2-car garage . The house has a open floor plan with the study and dining room as you enter, leading to the grand living room and kitchen perfect flow for entertaining of just family time. The Master Bedroom is down and the other 4 Bedrooms are upstairs around the game room.Wood Floor through out of the house.The house has brand new roof. The backyard is very spacious and private. Close to the community pool and park.This is a corner lot house with cover patio Come See, you will like it!!

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: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Neighborhood: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262469

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,660
Property Tax -$783
Property Insurance -$231
HOA -$38
Property Management Fees -$99
CASH FLOW
-$261

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.

$450,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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-$5.0k$0.0$5.0k$10k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,658

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,4504$2,5505$3,000
$3,000
RENT COMPS ANALYSIS
  • 600 Laredo Drive Murphy, TX 4
    • 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.72
    •  
  • 3105 Leesa Court Wylie, TX 1
    • 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 332 Kansas Trail Murphy, TX 2
    • 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2006
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 341 Apache Trail Murphy, TX 3
    • 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 634 Seminole Trail Murphy, TX 5
    • 4 beds 4 baths ∙ 3,700 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,700 Sqft ∙ Built 2014
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lounceny Nabe
Banko Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471718
Last Updated: 11/14/2020
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