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6641 Shadow Crest Drive Plano, TX 75093

4 Beds 3 Baths 2,444 sqft Built 1994

$449,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $183.72
  • 2 Days on Market
  • MLS # : 14471792
  • Updated Date : 11/21/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,444 sqft
  • Baths : 3 full
Listing Agent

Re/max Premier

Listing Agent's Description

Rare 1 story in The Hills of Prestonwood golf community! Open floorplan with split bedrooms for privacy complete with 3 full baths! The moment you enter, you'll notice the most gorgeous hand scraped stained on site wood floors in all living & dining areas plus 4th bedroom or study. Elegant 11 ft tall ceilings in main living areas & upgrade custom trim work thru-out. Recent updates also include engineered wood floors in master bedroom. Enjoy fabulous outdoor living & ambiance from 10 x 15 covered patio in this private backyard oasis! Close to Tollway, Bush, Hwy 121, Legacy West & Willow Bend Mall & restaurants! No showings Saturday or before noon Sunday. Please wear mask & put on fresh gloves provided at door.

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: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k761k

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

Neighborhood: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263124

* 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
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,657
Property Tax -$783
Property Insurance -$168
HOA -$33
Property Management Fees -$99
CASH FLOW
-$11

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.

$449,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,670

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,6503$2,6754$2,6755$2,730
$2,730
RENT COMPS ANALYSIS
  • 6641 Shadow Crest Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.12
    •  
  • 6844 Myrtle Beach Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,333 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,333 Sqft ∙ Built 1993
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 6309 Park Meadow Lane Plano, TX 2
    • 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1996
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.17
    •  
  • 6200 Park Meadow Lane Plano, TX 3
    • 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 1997
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.03
    •  
  • 6117 Park Meadow Lane Plano, TX 4
    • 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 1997
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.19
    •  
PROPERTY LISTING DETAILS
Audrey Gillett
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471792
Last Updated: 11/21/2020
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