Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7101 Dobbins Drive Plano, TX 75025

3 Beds 3 Baths 2,526 sqft Built 1996

$380,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $150.44
  • 3 Days on Market
  • MLS # : 14504638
  • Updated Date : 01/22/2021 at 19:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,526 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Four Corners

Listing Agent's Description

This well maintained home offers multiple home office & virtual learning center options with its three living areas, two dining areas & built in kitchen desk. Oversized white kitchen with island, gas cooktop, large pantry & 2020 dishwasher. Spacious family room with gas log fireplace overlooking very private backyard. One of the best features of this home is the relaxing outdoor 19x14 roof covered patio with two ceiling fans, gas stub, wiring for a spa all surrounded by eight foot, board-on-board privacy cedar fence. Walk to high ranking Mathews Elementary, Kroger, restaurants, retail, Plano public library & Prairie Meadow Park.All engineered hardwood & ceramic tile flooring-Windows have been replaced.HVAC 2014

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: Legacy Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Legacy Park Estates

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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,320
Property Tax -$647
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$59

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.

$380,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.57%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,236

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1803$2,2004$2,2005$2,495
$2,495
RENT COMPS ANALYSIS
  • 7101 Dobbins Drive Plano, TX 2
    • 3 beds 3 baths ∙ 2,526 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,526 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.86
    •  
  • 7405 Ryan Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1990
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 2704 Powderhorn Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1986
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 2708 Redfield Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1990
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 3112 Ipswich Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1988
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jen Harris
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504638
Last Updated: 01/22/2021
BESbswy