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6900 Cannon Falls Drive Plano, TX 75024

4 Beds 3 Baths 4,336 sqft Built 2005

$725,000

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $167.20
  • 4 Days on Market
  • MLS # : 14494796
  • Updated Date : 01/07/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,336 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

Nestled in Plano’s Kings Ridge neighborhood an elegant Brentwood custom home w- thoughtful floorplan creating individual space while keeping the family connection thru-out. Manicured yard, grand entry, sweeping staircase beautifully accented, & designer neutral color pallet welcomes you. Island kitch opens to fam rm anchored by stone FP & wall of windows providing abundant natural light. Spacious Home office highlighted w- built-ins & storage. Entertaining close family & friends is a breeze w- your own wine cellar, game area, media rm, & outdoor pool flanked by built-in bar & kitch. Master is spacious w- sitting area, private entrance to outdoors, expansive closet, & bath retreat. Details thru-out are amazing!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Kings Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k635k

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

Neighborhood: Kings Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11263887

* 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
Hicks Elementary School Primary Regular 615 43 9
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Hicks Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 43
9
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
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$2,518
Property Tax -$1,265
Property Insurance -$278
HOA -$69
Property Management Fees -$99
CASH FLOW
-$348

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.

$725,000

PROJECTED PRICE

$3,880

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,913

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,7503$3,8004$3,8505$3,880
$3,880
RENT COMPS ANALYSIS
  • 6900 Cannon Falls Drive Plano, TX 5
    • 4 beds 3 baths ∙ 4,336 Sqft ∙ Built 2005 4 beds 3 baths ∙ 4,336 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $0.89
    •  
  • 6401 Stillwater Lane Plano, TX 1
    • 5 beds 4 baths ∙ 4,197 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,197 Sqft ∙ Built 2003
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.83
    •  
  • 7040 Falling Water Lane Plano, TX 2
    • 5 beds 4 baths ∙ 4,129 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,129 Sqft ∙ Built 2004
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.91
    •  
  • 6913 Traceland Drive Plano, TX 3
    • 4 beds 4 baths ∙ 4,033 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,033 Sqft ∙ Built 2005
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.94
    •  
  • 6901 Traceland Drive Plano, TX 4
    • 4 beds 5 baths ∙ 4,122 Sqft ∙ Built 2005 4 beds 5 baths ∙ 4,122 Sqft ∙ Built 2005
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kerie Turner
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494796
Last Updated: 01/07/2021
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