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7309 Hillview Drive Plano, TX 75025

5 Beds 5 Baths 3,004 sqft Built 1989

$395,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $131.49
  • 4 Days on Market
  • MLS # : 14503632
  • Updated Date : 01/23/2021 at 20:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,004 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

Unique Find! This partially remodeled 4-6 bedroom home is adaptable for multi use and multi generational living! Hand scraped hardwoods, soaring ceilings, fresh paint and carpet. 2 large bedrooms down with one being a large suite with private entrance and access to the home. 3 bedrooms up with 2 full baths and a large game room pre-plumbed for a bar, seller is currently using it as a bedroom. This home has lots of living space and is situated on a corner lot with large trees. Priced according to updates still to be done, the pool has been filled in and there is not a garage as it is now the well appointed suite. MULTIPLE OFFERS RECEIVED. HIGHEST & BEST BY SUNDAY THE 24TH AT 4PM.

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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: Oakwood Glen South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k385k

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

Neighborhood: Oakwood Glen South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262408

* 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
Hedgcoxe Elementary School Primary Regular 410 32 9
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Hedgcoxe Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 32
9
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,372
Property Tax -$672
Property Insurance -$201
Property Management Fees -$99
CASH FLOW
$156

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.

$395,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$31,872

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,463

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4953$2,5004$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 7309 Hillview Drive Plano, TX 3
    • 5 beds 5 baths ∙ 3,004 Sqft ∙ Built 1989 5 beds 5 baths ∙ 3,004 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 1608 Endicott Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 1997
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.78
    •  
  • 1604 Simsbury Drive Plano, TX 2
    • 4 beds 3 baths ∙ 3,186 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,186 Sqft ∙ Built 1997
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 1924 Brabant Drive Plano, TX 4
    • 4 beds 4 baths ∙ 3,099 Sqft ∙ Built 1988 4 beds 4 baths ∙ 3,099 Sqft ∙ Built 1988
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 1724 Endicott Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 1991
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Courtney Benson
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503632
Last Updated: 01/23/2021
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