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6529 Sleepy Spring Drive Plano, TX 75024

3 Beds 3 Baths 3,304 sqft Built 2008

$559,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $169.19
  • 3 Days on Market
  • MLS # : 14527165
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

Gorgeous two-story custom home in the coveted neighborhood of Pointe West & PLANO ISD! Grand entry features captivating spiral staircase, soaring ceilings, hardwood flooring throughout and tons of natural light. Downstairs living provides open layout with a cozy fireplace. Chef's kitchen showcases oversized island and bar with granite countertops, custom cabinets, gas cooktop & S-S appliances. Spacious primary suite with private balcony & park views. Primary bathroom boasts gas fireplace, dual sinks, separate vanities, sitting area, walk-in shower & jetted tub. Game room or flex space with built-in desk + media room upstairs. Spacious backyard, great for entertaining, including private access to Sunset Park!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Pointe West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $123k682k

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

Neighborhood: Pointe West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400360038004000Rent in $11264084

* 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
Homestead Elementary School Primary Regular 597 42 8
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Homestead Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 42
8
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

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

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$1,942
Property Tax -$951
Property Insurance -$218
HOA -$58
Property Management Fees -$99
CASH FLOW
-$48

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

$3,220

PROJECTED RENT

0.58%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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

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 55% 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

4.17

YEARS SAVED

$22,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,287

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,2204$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 6529 Sleepy Spring Drive Plano, TX 3
    • 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,304 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $0.97
    •  
  • 6124 Palomino Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,109 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,109 Sqft ∙ Built 1995
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 6209 Trailwood Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1994
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 5820 Westmont Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.05
    •  
  • 5829 Westmont Drive Plano, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kelsey Faires
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527165
Last Updated: 03/05/2021
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