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7009 Fallkirk Drive Plano, TX 75025

3 Beds 3 Baths 1,924 sqft Built 1996

$349,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $181.86
  • 2 Days on Market
  • MLS # : 14509620
  • Updated Date : 01/30/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 2 full , 1 half
Listing Agent

William Davis Realty

Listing Agent's Description

Beautiful 3 bedroom, two and a half bath home with the pool in the highly-sought after Plano ISD. Home boasts a lofted ceiling in the living room, the master suite downstairs, second living space or an office upstairs, and a gorgeous pool for great outdoor entertainment. Wood and tile flooring throughout- no carpet anywhere. Kitchen features recently upgraded quartz counter top, backsplash and SS appliances. Master bath is beautifully remodeled with garden tub and a separate shower. and quartz counter top. Pool features waterfall and LED light with palm and evergreen trees for easy to maintain backyard. Eight foot board on board privacy fence recently upgraded.

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: Windford Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Windford Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Mathews Elementary School Primary Regular 502 37 10
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Mathews Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 37
10
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,215
Property Tax -$595
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$28

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.

$349,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9504$2,0005$2,020
$2,020
RENT COMPS ANALYSIS
  • 7009 Fallkirk Drive Plano, TX 5
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.05
    •  
  • 3909 Sennen Court Plano, TX 1
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1996
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 6908 Tudor Drive Plano, TX 2
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 3928 Bexhill Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1994
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 3848 Beaumont Lane Plano, TX 4
    • 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 1986
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Elvir Ibrahimpasic
William Davis Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509620
Last Updated: 01/30/2021
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