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6619 Flanary Lane Dallas, TX 75252

5 Beds 4 Baths 2,732 sqft Built 1982

$515,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $188.51
  • 1 Days on Market
  • MLS # : 14529758
  • Updated Date : 03/13/2021 at 22:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,732 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bray Real Estate Group

Listing Agent's Description

BEAUTIFUL AND SPACIOUS HOME IN THE HEART OF PLANO! Warm and inviting 5 bed, 3.5 baths with an oversized backyard! This home is located in Preston Highlands and sits on almost a third of an acre. 2 Living areas with an option of a flex-office space. Spacious kitchen with lots of cabinet space. Master bedroom on the first floor with 4 bedrooms and 2 full baths upstairs. Minutes away from PGBT AND DNT and shopping centers.

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: Preston Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k408k

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

Neighborhood: Preston Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9472788

* 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
Jackson Elementary School Primary Regular 594 54 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Jackson Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 54
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

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

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,789
Property Tax -$1,017
Property Insurance -$185
HOA -$15
Property Management Fees -$99
CASH FLOW
-$355

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

$2,750

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,677

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4953$2,5504$2,7505$2,895
$2,895
RENT COMPS ANALYSIS
  • 6619 Flanary Lane Dallas, TX 4
    • 5 beds 4 baths ∙ 2,732 Sqft ∙ Built 1982 5 beds 4 baths ∙ 2,732 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.01
    •  
  • 4521 New Orleans Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 1982
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.92
    •  
  • 6032 Fieldstone Drive Dallas, TX 2
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1992
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.93
    •  
  • 6610 Sawmill Road Dallas, TX 3
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1986
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.97
    •  
  • 6711 Lovington Drive Dallas, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1984
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.10
    •  
PROPERTY LISTING DETAILS
Chris Mendez
Bray Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529758
Last Updated: 03/13/2021
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