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6312 W Trace Drive Plano, TX 75093

5 Beds 4 Baths 3,926 sqft Built 1996

$535,000

List Price

$3,790

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $136.27
  • 3 Days on Market
  • MLS # : 14493674
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,926 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

This home is full of so many great surprises, from a beautifully updated kitchen, to a reading nook mid-staircase, a rare media room, & even a hidden craft room, & finished out attic! Exquisite, open concept & features vaulted ceilings & natural light, as well as privacy with a rear entry 3-car garage, an alley & no backyard neighbors! The grand entry opens to formal areas & stunning staircase views. The master retreat features walk-in shower, dual vanities & large closet. There is another bedroom & full bath downstairs. Upstairs is a game room & movie theater with equipment & furniture included in the sale! Conveniently located near a hospital, but not on the main entry side. You do not want to miss this one!

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: Westover Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k760k

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

Neighborhood: Westover 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
 

$481,500$588,500$535,000

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$1,858
Property Tax -$964
Property Insurance -$254
HOA -$28
Property Management Fees -$99
CASH FLOW
$587

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.

$535,000

PROJECTED PRICE

$3,790

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.1%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$78,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,790

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $4,063

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,790
1$3,7902$3,9503$4,0004$4,1005$4,200
$4,200
RENT COMPS ANALYSIS
  • 6312 W Trace Drive Plano, TX 1
    • 5 beds 4 baths ∙ 3,926 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,926 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $0.97
    •  
  • 6425 Blacktree Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,811 Sqft ∙ Built 1995 5 beds 4 baths ∙ 3,811 Sqft ∙ Built 1995
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.04
    •  
  • 5924 Saint Agnes Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.06
    •  
  • 6513 Lazy Oak Lane Plano, TX 4
    • 5 beds 5 baths ∙ 4,105 Sqft ∙ Built 2009 5 beds 5 baths ∙ 4,105 Sqft ∙ Built 2009
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.00
    •  
  • 3900 Braewood Circle Plano, TX 5
    • 5 beds 4 baths ∙ 4,039 Sqft ∙ Built 1996 5 beds 4 baths ∙ 4,039 Sqft ∙ Built 1996
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493674
Last Updated: 01/08/2021
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