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6004 Frontier Lane Plano, TX 75023

4 Beds 3 Baths 2,232 sqft Built 1980

$299,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $134.36
  • 2 Days on Market
  • MLS # : 14465975
  • Updated Date : 11/07/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ready Real Estate

Listing Agent's Description

Great Location*New Cabinets in Kitchen and in all Bathrooms*Granite Kitchen Countertops*Granite in all Bathrooms*Stainless Steel Appliances*4 Bedroom*2.5 Bath*Wood Floor in Formal Dining*Large Backyard*Covered Patio with Garden Room*Ceiling Fans in all Bedrooms*Window Coverings*Wood Fence*in the heart of West Plano

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: Town West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k370k

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

Neighborhood: Town West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10092224

* 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
Christie Elementary School Primary Regular 706 62 5
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Christie Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 62
5
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,107
Property Tax -$510
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,048

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7603$1,9204$1,9255$1,995
$1,995
RENT COMPS ANALYSIS
  • 6004 Frontier Lane Plano, TX 3
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.86
    •  
  • 712 Tribal Road Plano, TX 1
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1984
    property image
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 601 Rawhide Court Plano, TX 2
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1984
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.92
    •  
  • 3412 Grenoble Court Plano, TX 4
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1993
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.91
    •  
  • 877 Harvest Glen Drive Plano, TX 5
    • 5 beds 2 baths ∙ 2,120 Sqft ∙ Built 1984 5 beds 2 baths ∙ 2,120 Sqft ∙ Built 1984
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
Laurie O'dell
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465975
Last Updated: 11/07/2020
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