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6417 Lochridge Drive Plano, TX 75093

4 Beds 4 Baths 3,597 sqft Built 1994

$635,000

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $176.54
  • 3 Days on Market
  • MLS # : 14508083
  • Updated Date : 01/29/2021 at 10:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,597 sqft
  • Baths : 3 full , 1 half
Listing Agent

Aesthetic Realty, Llc

Listing Agent's Description

Amazing updated custom family house with an amazing pool, spa, and water feature. Extremely well maintained with an added covered patio with tons of upgrades. Please see document list for all the renovations. Private study and spacious downstairs masters. Great beach feel with massive palm trees in the backyard, custom built gazebo patio with shed. Pool equipment put away on the side. There is no sign in the front of the house. Please observe all COVID guidelines, no overlapping showings allowed. Please turn off all lights after showing is complete.

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: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $123k861k

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400360038004000Rent in $11264078

* 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
 

$571,500$698,500$635,000

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$2,206
Property Tax -$1,080
Property Insurance -$235
HOA -$31
Property Management Fees -$99
CASH FLOW
$109

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.

$635,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.59%

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-$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$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$38,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,750

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,5003$3,5004$3,7605$4,000
$4,000
RENT COMPS ANALYSIS
  • 6417 Lochridge Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,597 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,597 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $1.05
    •  
  • 6529 Sleepy Spring Drive Plano, TX 1
    • 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.00
    •  
  • 5829 Westmont Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1996
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.05
    •  
  • 6304 Brimwood Drive Plano, TX 3
    • 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993 5 beds 4 baths ∙ 3,416 Sqft ∙ Built 1993
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 5813 Dorset Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,644 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,644 Sqft ∙ Built 1997
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jiyou Xu
Aesthetic Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508083
Last Updated: 01/29/2021
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