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7028 Luxborough Drive Plano, TX 75024

3 Beds 2 Baths 2,132 sqft Built 2013

$525,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $246.25
  • 4 Days on Market
  • MLS # : 14510583
  • Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

Sharon Ketko Realty

Listing Agent's Description

**OPEN HOUSE SAT. 13TH FROM 1-4 PM** Immaculate updated one-story home on greenbelt lot in prestigious Kings Ridge! Be the envy of family and friends when you show off the sweeping open floor plan with hardwood floors, Plantation shutters, radiant barrier, tankless water heater and more. 2 guest bedrooms, updated full bath and formal dining room with designer light fixture lead to large living and kitchen area. Gourmet kitchen features granite island, KitchenAid appliances including a 5 burner gas cooktop. Master suite has French doors to the patio, greenbelt views, spa-like master bath with walk-in closet that also opens to the utility room. Relax in style by your saltwater pool overlooking the greenbelt.

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: 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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,824
Property Tax -$916
Property Insurance -$150
HOA -$69
Property Management Fees -$99
CASH FLOW
-$358

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.

$525,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,191

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,1004$2,1505$2,700
$2,700
RENT COMPS ANALYSIS
  • 7028 Luxborough Drive Plano, TX 5
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.27
    •  
  • 5813 Stone Mountain Road The Colony, TX 1
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2008
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.01
    •  
  • 5826 Pinebrook Drive The Colony, TX 2
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2008
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 6309 Lost Valley Drive The Colony, TX 3
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2009
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 5845 Pinebrook Drive The Colony, TX 4
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2008
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sharon Ketko
Sharon Ketko Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510583
Last Updated: 02/11/2021
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