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7217 Petersburg Drive Plano, TX 75074

4 Beds 3 Baths 2,398 sqft Built 2006

$319,500

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.24
  • 2 Days on Market
  • MLS # : 14476403
  • Updated Date : 11/28/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,398 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grand Ark Llc

Listing Agent's Description

INVESTOR BUYERS ONLY. TENANT OCCUPIED. Gorgeous 4 bed 2.5 bath in Plano. Great floorplan with high ceilings! Kitchen features granite countertops and spacious island. Master bed down overlooking backyard. Master bath features double vanities, garden tub, separate shower, and walk-in closet. Three bedrooms, game room, and 2nd full bath upstairs. Won't last long!

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: Timberbrook West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Timberbrook West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Mccall Elementary School Primary Regular 555 39 7
Bowman Middle School Middle Regular 811 63 5
Plano East Senior High School High Regular 2,841 183 8

Mccall Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 39
7
GreatSchools Rating

Bowman Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 63
5
GreatSchools Rating

Plano East Senior High School

  • Education Level: High
  • # of students: 2,841
  • # of teachers: 183
8
GreatSchools Rating
 

$287,550$351,450$319,500

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,179
Property Tax -$565
Property Insurance -$166
HOA -$48
Property Management Fees -$99
CASH FLOW
-$26

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.

$319,500

PROJECTED PRICE

$2,030

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,418

INVESTMENT

$90,418

Down Payment
$79,875
Rehab Estimate
$5,750
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,179

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,875
Loan Amount $239,625
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$1,9953$2,0304$2,0955$2,500
$2,500
RENT COMPS ANALYSIS
  • 7217 Petersburg Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.85
    •  
  • 3413 Bright Star Way Plano, TX 1
    • 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
  • 7205 Petersburg Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 3205 Heatherbrook Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1998
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.90
    •  
  • 3029 Monford Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,590 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,590 Sqft ∙ Built 2016
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Emily Yang
Grand Ark Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476403
Last Updated: 11/28/2020
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