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622 Sunningdale Richardson, TX 75081

5 Beds 3 Baths 3,802 sqft Built 1998

$474,900

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $124.91
  • 3 Days on Market
  • MLS # : 14486813
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,802 sqft
  • Baths : 3 full
Listing Agent

Crescent Realty Group

Listing Agent's Description

Bright & airy, spacious 5-bedroom 2 story home with excellent floor plan. Master suite and 2 bedrooms down; perfect for in-laws. 2nd. Floor has 2 bedrooms plus loft that could be used as study area or office. Large closets with ample storage thru out. Out door oasis will not disappoint on oversized lot with patio, custom built fish pond, cabana with shower, built-in brick grill, security gate pool & spa.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Richland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Neighborhood: Richland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262761

* 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
Richland Elementary School Primary Regular 625 39 6
Apollo Junior High School Middle Regular 642 42 7
Berkner High School High Regular 2,494 174 4

Richland Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 39
6
GreatSchools Rating

Apollo Junior High School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 42
7
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,752
Property Tax -$1,109
Property Insurance -$247
Property Management Fees -$99
CASH FLOW
-$397

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.

$474,900

PROJECTED PRICE

$2,810

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.5%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$3,000
$3,000
RENT COMPS ANALYSIS
  • 622 Sunningdale Richardson, TX 1
    • 5 beds 3 baths ∙ 3,802 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,802 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.74
    •  
  • 817 Rayeed Avenue Richardson, TX 2
    • 5 beds 4 baths ∙ 3,684 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,684 Sqft ∙ Built 2013
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.81
    •  
PROPERTY LISTING DETAILS
Javaid Karim
Crescent Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486813
Last Updated: 12/18/2020
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