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6901 Sharps Drive Plano, TX 75023

3 Beds 2 Baths 1,690 sqft Built 1985

$290,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $171.60
  • 5 Days on Market
  • MLS # : 14489632
  • Updated Date : 12/26/2020 at 16:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Acquisto Real Estate

Listing Agent's Description

Hurry! Showings will be allowed thru Sunday. Will discuss all offers Sunday evening. Must see this super cute well maintained 3 bedroom, 2 bath home in Plano. You'll be able to move right in to the home with two living areas and tons of updates.Walk in to family room with a wood burning fireplace. Red oak wood floors thru out the front living area, formal dining, hallway and bedrooms. Kitchen has granite countertops and stainless steel appliances and over looks the second living area and breakfast area with travertine floor tile.Lots of room to run and relax in the private backyard with BOB fence and pergola. LED lights installed automatically turn on after sunset.Garage fits two full size vehicles.

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,070
Property Tax -$493
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$27

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.

$290,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7603$1,7994$1,8755$2,000
$2,000
RENT COMPS ANALYSIS
  • 6901 Sharps Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.04
    •  
  • 6901 Wickliff Trail Plano, TX 1
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1987
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 1941 Hawken Drive Plano, TX 3
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1987
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.03
    •  
  • 2229 Chasefield Drive Plano, TX 4
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1990
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
  • 7109 Stoddard Lane Plano, TX 5
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1992
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.10
    •  
PROPERTY LISTING DETAILS
Mike Shepherd
Acquisto Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489632
Last Updated: 12/26/2020
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