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655 Burr Oak Drive Frisco, TX 75033

6 Beds 4 Baths 4,042 sqft Built 2011

INVESTimate

$515,000

List Price

$2,670

$2,420 - $2,920

Rent Est.

$545,488  ( +5.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $127.41
  • 3 Days on Market
  • MLS # : 14400558
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,042 sqft
  • Baths : 4 full
Listing Agent

Vivo Realty

Listing Agent's Description

Enjoy spacious living with a beautiful backyard water view! Charming curb appeal features well maintained landscaping and an entrance that meets you with tall ceilings, curved staircase, hardwood floors, and fresh paint throughout. Private study, formal dining, and an additional room that can be used as a secondary study or bedroom. Master suite includes garden tub, separate shower, large closet with built in organization system, and private door that leads to back patio. Great for entertaining with an open concept and kitchen with SS appliances, granite countertops, walk in pantry. Upstairs includes 4 bed, 2 bath, media, game room, and all new carpet. Frisco ISD. Community pool, parks, and playgrounds.

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: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Billy Gene Phillips Elementary School Primary Unknown 749 42 NA
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Billy Gene Phillips Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 42
NA
GreatSchools Rating

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,403$2,937$2,670

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,900
Property Tax -$906
Property Insurance -$261
Property Management Fees -$99
CASH FLOW
-$496

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.

$515,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,809

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6703$2,6954$2,7955$2,850
$2,850
RENT COMPS ANALYSIS
  • 655 Burr Oak Drive Frisco, TX 2
    • 6 beds 4 baths ∙ 4,042 Sqft ∙ Built 2011 6 beds 4 baths ∙ 4,042 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.66
    •  
  • 1287 Polo Heights Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 3,737 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,737 Sqft ∙ Built 2015
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.71
    •  
  • 2556 Valley Glen Drive Little Elm, TX 3
    • 5 beds 5 baths ∙ 3,995 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,995 Sqft ∙ Built 2014
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.67
    •  
  • 13233 Bugatti Drive Frisco, TX 4
    • 6 beds 4 baths ∙ 4,072 Sqft ∙ Built 2003 6 beds 4 baths ∙ 4,072 Sqft ∙ Built 2003
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.69
    •  
  • 2560 Valley Glen Drive Little Elm, TX 5
    • 5 beds 5 baths ∙ 4,020 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,020 Sqft ∙ Built 2015
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Heather Stevens
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14400558
Last Updated: 08/25/2020
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