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6301 Wolf Ridge Drive Plano, TX 75024

5 Beds 4 Baths 3,695 sqft Built 1998

$559,000

List Price

$3,560

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $151.29
  • 2 Days on Market
  • MLS # : 14508452
  • Updated Date : 01/30/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,695 sqft
  • Baths : 4 full
Listing Agent

Jp And Associates Willow Park

Listing Agent's Description

LUXURY home backing up to green space and POND view in coveted Wolf Creek Estates just steps from the SHADY BROOK TRAIL! This elegant home offers pristine wood floors, 3 living spaces and upgraded kitchen open to family room. Other features include; formal living and dining room, 1st floor master suite, 2nd bedroom (or home office) and bath downstairs, as well as 3 car side-entry garage with built in cabinetry. Upstairs offers 3 spacious bedrooms, 2 bathrooms, game room and BONUS 18X28 walk in STORAGE area. Multiple upgrades completed since 2015, including HVAC and new roof. Relax in the backyard under the pergola enjoying the pond view, take a dip in the private pool and spa, or walk and bike on the trails.

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: Wolf Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Wolf Creek Estates

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
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
 

$503,100$614,900$559,000

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$1,942
Property Tax -$951
Property Insurance -$241
HOA -$83
Property Management Fees -$99
CASH FLOW
$244

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.

$559,000

PROJECTED PRICE

$3,560

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.6%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$45,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,667

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5603$3,6254$3,7505$4,150
$4,150
RENT COMPS ANALYSIS
  • 6301 Wolf Ridge Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,695 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,695 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $0.96
    •  
  • 6508 Sleepy Spring Drive Plano, TX 1
    • 5 beds 4 baths ∙ 3,621 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,621 Sqft ∙ Built 2010
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.94
    •  
  • 6424 Riveredge Drive Plano, TX 3
    • 5 beds 5 baths ∙ 3,801 Sqft ∙ Built 2001 5 beds 5 baths ∙ 3,801 Sqft ∙ Built 2001
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,625
    • $0.95
    •  
  • 6901 Cannon Falls Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,737 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,737 Sqft ∙ Built 2005
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.00
    •  
  • 6900 Grand Hollow Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,826 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,826 Sqft ∙ Built 2001
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christa Allen
Jp And Associates Willow Park
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508452
Last Updated: 01/30/2021
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