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6373 Star Creek Frisco, TX 75034

4 Beds 4 Baths 4,210 sqft Built 1996

INVESTimate

$700,000

List Price

$4,360

$4,110 - $4,610

Rent Est.

$723,940  ( +3.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $166.27
  • 3 Days on Market
  • MLS # : 14414921
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,210 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Remodeled home with outdoor oasis & greenbelt views in the premier gated neighborhood of Starwood! Designed to impress w-wood floors, plantation shuttrs, rich millwork, elegant lighting & upgrades throughout. Formal Dining Room w-butlers pantry leads to an amazing Chef’s Dream Island Kitchen boasting Subzero fridge, WOLF Cooktop, custom coffee station, dbl ovens, wine fridge, ice machine & dbl dishwashers. Family Room with built-ins & stone surround fireplace. Master Suite is a true retreat w-luxurious spa-bath w-rain shower & amazing custom closet system. 2nd floor features Game Room & 2nd Master. Open patios overlook a sparkling pool, spa, built-in grill & gorgeous greenbelt views. Oversized 2.5 car garage!

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: Starwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $123k869k

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

Neighborhood: Starwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $11264765

* 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
Otis Spears Elementary School Primary Regular 764 43 8
Lamar And Norma Hunt Middle School Middle Regular 785 54 NA
Frisco High School High Regular 2,136 146 8

Otis Spears Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 43
8
GreatSchools Rating

Lamar And Norma Hunt Middle School

  • Education Level: Middle
  • # of students: 785
  • # of teachers: 54
NA
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$3,924$4,796$4,360

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,360
EXPENSES Loan Payment -$2,583
Property Tax -$1,532
Property Insurance -$270
HOA -$119
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.

$700,000

PROJECTED PRICE

$4,360

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$18,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,360

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $4,378

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$4,2003$4,3604$4,4005$4,800
$4,800
RENT COMPS ANALYSIS
  • 6373 Star Creek Frisco, TX 3
    • 4 beds 4 baths ∙ 4,210 Sqft ∙ Built 1996 4 beds 4 baths ∙ 4,210 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $4,360
    • $1.04
    •  
  • 4693 Glen Heather Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 4,092 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,092 Sqft ∙ Built 2003
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.86
    •  
  • 6373 Orchard Park Drive Frisco, TX 2
    • 4 beds 4 baths ∙ 3,896 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,896 Sqft ∙ Built 1997
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.08
    •  
  • 5431 Widgeon Way Frisco, TX 4
    • 4 beds 4 baths ∙ 4,126 Sqft ∙ Built 1997 4 beds 4 baths ∙ 4,126 Sqft ∙ Built 1997
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.07
    •  
  • 4656 Driftwood Drive Frisco, TX 5
    • 4 beds 4 baths ∙ 4,161 Sqft ∙ Built 1997 4 beds 4 baths ∙ 4,161 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.15
    •  
PROPERTY LISTING DETAILS
Christie Cannon
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414921
Last Updated: 08/25/2020
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