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6816 Wesson Drive Plano, TX 75023

4 Beds 3 Baths 2,567 sqft Built 1988

$335,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $130.50
  • 3 Days on Market
  • MLS # : 14470201
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,567 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful home with stunning curb appeal! Brazilian wood adorns the living, dining, and family rooms. Gourmet kitchen with granite counters and tumbled marble backsplash. Large master suite with fireplace. Backyard is perfect for outdoor living. Low maintenance aluminum siding. Price reflects selling home in current condition as is. Original owner home has been well taken care of. Come put your finishing touches. This home is a MUST SEE!

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: Hunters Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Hunters Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Thomas Elementary School Primary Regular 617 53 3
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Thomas Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 53
3
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,236
Property Tax -$570
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$30

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.

$335,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,099

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,0994$2,1105$2,200
$2,200
RENT COMPS ANALYSIS
  • 6816 Wesson Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.82
    •  
  • 6712 Catalpa Trail Plano, TX 1
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 1928 Walters Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1990
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
  • 7004 Childrens Way Plano, TX 3
    • 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2001
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.84
    •  
  • 6901 Aimpoint Drive Plano, TX 5
    • 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470201
Last Updated: 11/13/2020
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