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6904 Laramie Drive Plano, TX 75023

4 Beds 3 Baths 2,837 sqft Built 1988

$407,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $143.46
  • 4 Days on Market
  • MLS # : 14503530
  • Updated Date : 01/22/2021 at 19:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 3 full
Listing Agent

Halo Group Realty, Llc

Listing Agent's Description

**Seller will review all offers on Sunday January 24th at 5pm** Recently renovated by second owners, this split floorplan offers an exceptional open concept great room that boasts 10' ceilings and custom spiral staircase leading to double bonus rooms. Eat-in kitchen features stainless appliances and oversized granite island with bar seating, farm sink and wine fridge. Low maintenance, private backyard comes complete with gas hook up, covered patio, new 8' privacy fence and lagoon style pool and spa. HVAC replaced in 2020. Pool maintained weekly by NTx Pools.

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: Glenview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Glenview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11122224

* 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
 

$366,300$447,700$407,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,414
Property Tax -$692
Property Insurance -$191
Property Management Fees -$99
CASH FLOW
-$16

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.

$407,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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$15k

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$113,605

INVESTMENT

$113,605

Down Payment
$101,750
Rehab Estimate
$5,750
Closing Costs
$6,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,750
Loan Amount $305,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,440

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3803$2,3954$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 6904 Laramie Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.84
    •  
  • 6901 Aimpoint Drive Plano, TX 1
    • 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,706 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 1505 Endicott Drive Plano, TX 3
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 1405 Newbury Lane Plano, TX 4
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1989
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
  • 1724 Endicott Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 1991
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Judi Mahony
Halo Group Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503530
Last Updated: 01/22/2021
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