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6220 Walling Lane Plano, TX 75093

5 Beds 4 Baths 4,006 sqft Built 1991

$599,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $149.53
  • 4 Days on Market
  • MLS # : 14480330
  • Updated Date : 01/08/2021 at 14:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,006 sqft
  • Baths : 3 full , 1 half
Listing Agent

Elm Fork Realty

Listing Agent's Description

Must See! Beautiful, two-story, master downstairs, 5 bedroom home in coveted Wyndham Hill neighborhood in West Plano. Freshly renovated master bathroom, new picture windows in main living area, new kitchen flooring with granite countertops, luxurious pebbletec swimming pool, large mature trees, large game room upstairs, walking distance to neighborhood park and Barksdale Elementary. Zoned to West Plano schools. Very close to Arbor Nature Preserve, Legacy West, Dallas North Tollway and Willow Bend Mall.

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: Wyndham Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k796k

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

Neighborhood: Wyndham Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263440

* 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
 

$539,100$658,900$599,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$2,081
Property Tax -$1,019
Property Insurance -$259
Property Management Fees -$99
CASH FLOW
$343

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.

$599,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$59,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $4,096

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9503$3,9954$4,0005$4,200
$4,200
RENT COMPS ANALYSIS
  • 6220 Walling Lane Plano, TX 1
    • 5 beds 4 baths ∙ 4,006 Sqft ∙ Built 1991 5 beds 4 baths ∙ 4,006 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.95
    •  
  • 6425 Blacktree Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,811 Sqft ∙ Built 1995 5 beds 4 baths ∙ 3,811 Sqft ∙ Built 1995
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.04
    •  
  • 3005 Paddington Drive Plano, TX 3
    • 4 beds 4 baths ∙ 4,212 Sqft ∙ Built 1996 4 beds 4 baths ∙ 4,212 Sqft ∙ Built 1996
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $0.95
    •  
  • 5924 Saint Agnes Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.06
    •  
  • 3900 Braewood Circle Plano, TX 5
    • 5 beds 4 baths ∙ 4,039 Sqft ∙ Built 1996 5 beds 4 baths ∙ 4,039 Sqft ∙ Built 1996
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.04
    •  
PROPERTY LISTING DETAILS
Chris Clary
Elm Fork Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480330
Last Updated: 01/08/2021
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