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717 High Plains Drive Murphy, TX 75094

5 Beds 4 Baths 3,540 sqft Built 2005

$449,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $126.84
  • 4 Days on Market
  • MLS # : 14473288
  • Updated Date : 11/19/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,540 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

You will fall in love with this home right in the heart of the highly sought after Maxwell Creek! This dream home features a desirable floor plan with 5 bedrooms, 3 ½ bathrooms, an eat-in kitchen with a butlers pantry, 2 living rooms, an office with French doors, a large game room and so much more! Outside the home sits on a beautifully landscaped lot with a huge backyard and a swing garage with a super sized driveway. Roof, HVAC and water heater were all replaced within 5 years. Walking distance to the highly rated Tibbals Elementary School, Waters Edge Park, The Preserve at Maxwell Creek and minutes away from the neighborhood water park. This meticulously kept, move in ready home in Murphy, TX is a must see!

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: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k458k

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

Neighborhood: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262522

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,657
Property Tax -$781
Property Insurance -$232
HOA -$50
Property Management Fees -$99
CASH FLOW
-$479

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.

$449,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3404$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 717 High Plains Drive Murphy, TX 3
    • 5 beds 4 baths ∙ 3,540 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,540 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.66
    •  
  • 909 Appalachian Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 3105 Leesa Court Wylie, TX 2
    • 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 428 Cave River Drive Murphy, TX 4
    • 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.69
    •  
  • 434 Teagarden Court Murphy, TX 5
    • 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
Najat Murillo
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473288
Last Updated: 11/19/2020
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