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705 Portofino Place Southlake, TX 76092

5 Beds 4 Baths 4,048 sqft Built 2005

INVESTimate

$675,000

List Price

$4,230

$3,980 - $4,480

Rent Est.

$705,510  ( +4.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $166.75
  • 5 Days on Market
  • MLS # : 14418843
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,048 sqft
  • Baths : 4 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Custom built luxurious home in Southlake’s prestigious Siena subdivision. Large private outdoor oasis with large garden, covered patio and designer swimming pool with 8 ft Cedar privacy fence. Features 5 BR, 4 baths, study with built ins, upstairs game room and a media. First floor Primary suite has dual walk in closets. Hand scraped hardwoods throughout the lower level living, dining areas and into study. Large open living area with 20 ft high vaulted ceilings, floor to ceiling windows looking out to rear of the property, an abundance of natural light. Breakfast bar, abundance of cabinets, granite counter tops flowing into the dining room. 3 car garage, 2 year old HVAC. Top rated Carroll ISD open enrollment.

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

Zip Code: 76092

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k722k

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

Zip Code: 76092

ZipNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $11264415

* 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
Florence Elementary School Primary Regular 500 35 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Florence Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 35
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$3,807$4,653$4,230

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$2,490
Property Tax -$1,362
Property Insurance -$261
HOA -$58
Property Management Fees -$99
CASH FLOW
-$41

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.

$675,000

PROJECTED PRICE

$4,230

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.52%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$32,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $4,200

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,1003$4,2304$4,3505$4,500
$4,500
RENT COMPS ANALYSIS
  • 705 Portofino Place Southlake, TX 3
    • 5 beds 4 baths ∙ 4,048 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,048 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $1.04
    •  
  • 1917 White Oak Clearing Southlake, TX 1
    • 4 beds 4 baths ∙ 3,900 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,900 Sqft ∙ Built 2000
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.02
    •  
  • 900 Venice Avenue Southlake, TX 2
    • 4 beds 4 baths ∙ 4,200 Sqft ∙ Built 2003 4 beds 4 baths ∙ 4,200 Sqft ∙ Built 2003
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.98
    •  
  • 1409 Northridge Drive Southlake, TX 4
    • 4 beds 5 baths ∙ 3,896 Sqft ∙ Built 1992 4 beds 5 baths ∙ 3,896 Sqft ∙ Built 1992
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $1.12
    •  
  • 1004 Siena Drive Southlake, TX 5
    • 5 beds 4 baths ∙ 4,370 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,370 Sqft ∙ Built 2005
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Woodfin Marr
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418843
Last Updated: 08/22/2020
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