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6400 Meadowview Court Plano, TX 75024

5 Beds 4 Baths 3,449 sqft Built 1994

$499,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $144.94
  • 11 Days on Market
  • MLS # : 14457941
  • Updated Date : 10/26/2020 at 12:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,449 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful West Plano 2-story home located on corner, cul-de-sac lot has handsome hickory wood flooring, 3 living areas, 2 dining areas, and an office with fireplace. Kitchen includes a large island, breakfast bar, and a spacious walk-in pantry. Family Room has a see-thru fireplace and overlooks the kitchen and breakfast room. Second floor retreat has 5 bedrooms, 2 full baths, game room, and a bonus room for a nursery, second office, or anything. Master suite includes a fireplace, balcony, walk-in closet, and a private bath with a garden tub and walk-in shower. Gorgeous backyard with a large covered patio, diving pool and spa. Best feature is close proximity to parks, trails, and easy walk to grades K-10.

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: Preston Crest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k412k

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

Neighborhood: Preston Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262723

* 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
Gulledge Elementary School Primary Regular 615 44 9
Robinson Middle School Middle Regular 970 56 9
Jasper High School High Regular 1,406 76 9

Gulledge Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 44
9
GreatSchools Rating

Robinson Middle School

  • Education Level: Middle
  • # of students: 970
  • # of teachers: 56
9
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,844
Property Tax -$851
Property Insurance -$226
Property Management Fees -$99
CASH FLOW
-$530

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.

$499,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,457

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4803$2,4904$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 6400 Meadowview Court Plano, TX 3
    • 5 beds 4 baths ∙ 3,449 Sqft ∙ Built 1994 5 beds 4 baths ∙ 3,449 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.72
    •  
  • 4528 Waterford Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 1990
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.70
    •  
  • 4316 Creekstone Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,407 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,407 Sqft ∙ Built 1998
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.73
    •  
  • 4401 Crown Ridge Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,533 Sqft ∙ Built 1994 5 beds 4 baths ∙ 3,533 Sqft ∙ Built 1994
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
  • 4505 Waterford Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,504 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,504 Sqft ∙ Built 1993
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
PROPERTY LISTING DETAILS
Karen Beeson
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457941
Last Updated: 10/26/2020
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