Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6824 Nottoway Lane Plano, TX 75074

4 Beds 3 Baths 3,249 sqft Built 1997

$450,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $138.50
  • 3 Days on Market
  • MLS # : 14528989
  • Updated Date : 03/13/2021 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,249 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Lovely two story open concept living home with plenty of room and space indoors and out! This spacious 4 bedroom 3 full bath home is complete with an office, game room, and extra roomy kitchen including plenty of storage space with walk in pantry. The oversized backyard backs up to a beautiful heavily treed greenbelt and creek. A jogging & bike path nestled alongside the greenbelt is directly accessible from the backyard for the future home owner to literally be a hop, skip, and jump away from the outdoor active lifestyle and or dog walking. Need extra space for cars or things? This home has a 3 car garage located in the rear with alley access and secured by an electronic gate. Located in Timber Brook Estates.

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: Timberbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Timberbrook Estates

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
Mccall Elementary School Primary Regular 555 39 7
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Mccall Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 39
7
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,563
Property Tax -$766
Property Insurance -$215
HOA -$39
Property Management Fees -$99
CASH FLOW
-$271

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.

$450,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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-$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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,575

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3953$2,4104$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 6824 Nottoway Lane Plano, TX 3
    • 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.74
    •  
  • 2024 Spotted Court Plano, TX 1
    • 3 beds 3 baths ∙ 3,049 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,049 Sqft ∙ Built 2006
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 6401 Hickory Hill Drive Plano, TX 2
    • 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2008
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
  • 1813 Ryedale Drive Plano, TX 4
    • 5 beds 5 baths ∙ 3,382 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,382 Sqft ∙ Built 2016
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.83
    •  
  • 3513 Curbstone Way Plano, TX 5
    • 5 beds 4 baths ∙ 3,355 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,355 Sqft ∙ Built 2007
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kimberly Jacobson
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528989
Last Updated: 03/13/2021
BESbswy