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6932 Barbican Drive Plano, TX 75023

3 Beds 2 Baths 1,429 sqft Built 1995

INVESTimate

$285,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$311,591  ( +9.33%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $199.44
  • 8 Days on Market
  • MLS # : 14416023
  • Updated Date : 08/21/2020 at 19:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,429 sqft
  • Baths : 2 full
Listing Agent

Texas Urban Living Realty

Listing Agent's Description

LIGHT, BRIGHT AND OPEN - COMPLETELY UPDATED AND IN THE PERFECT LOCATION! With dramatic vaulted ceilings, hardwood floors throughout all living areas, durable concrete floors in the primary bedroom, and the PERFECT floorplan indoor and outdoor for entertaining, this home offers the perfect blend of traditional build and modern touch! New Water Heater (2019), New Roof (2017) new pergola with hassle free rock landscape and JUST the right amount of yard for pets, pool, or secondary outdoor area. Built in 1995, not only is the house move-in ready, it is move-in stunning! Must schedule a showing to see just how immaculate this house has been taken care of. Don't miss out on the opportunity. Welcome Home!

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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: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10892224

* 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
Carlisle Elementary School Primary Regular 529 38 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Carlisle Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 38
8
GreatSchools Rating

Schimelpfenig Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 53
9
GreatSchools Rating

Plano Senior High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,052
Property Tax -$485
Property Insurance -$110
HOA -$17
Property Management Fees -$99
CASH FLOW
-$132

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.

$285,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.33%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,7004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 6932 Barbican Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.14
    •  
  • 3228 Nova Trail Plano, TX 1
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1981
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 3273 Green Court Plano, TX 3
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1994
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
  • 3105 Ridge Hollow Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1994
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 3213 Sailmaker Lane Plano, TX 5
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1982
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jenn Thompson
Texas Urban Living Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416023
Last Updated: 08/21/2020
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