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7317 Vineyard Drive Plano, TX 75025

3 Beds 2 Baths 1,848 sqft Built 1986

$289,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $156.39
  • 2 Days on Market
  • MLS # : 14504442
  • Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Cute home near Chase Oaks community in Cross Creek East Addition in Plano ISD! This ideal 3 bedroom, 2 bath home includes a living room with fireplace, formal dining area, second living area, and kitchen semi open to LR. The home has a great layout, sits on a nice interior lot with sizable backyard including custom pergola over patio. New kitchen flooring, master bath updated with granite countertops, new tile in shower & tub area, new hardware faucets. New BB Fence 2019, two rain barrels in back & Roof replacement 2017 with 50 yr warranty. Short walk across street to The Courses @ Watercreek and Hoblitzelle Park Trails. This development is in the center of all Plano. Come see this one before it's gone!

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: Cross Creek East

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Cross Creek East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10602224

* 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
Rasor Elementary School Primary Regular 516 37 5
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Rasor Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 37
5
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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,004
Property Tax -$492
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$72

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.

$289,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.8%
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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$19,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 7317 Vineyard Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 7308 Elizabeth Place Plano, TX 1
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1986
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 824 Simon Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1985
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 7317 Burke Circle Plano, TX 4
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1986
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 925 Matilda Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1986
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Lyn Thomas
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504442
Last Updated: 01/23/2021
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