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7328 Frankford Road Dallas, TX 75252

4 Beds 3 Baths 2,271 sqft Built 1984

$385,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $169.53
  • 5 Days on Market
  • MLS # : 14517017
  • Updated Date : 02/11/2021 at 09:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,271 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Fabulous 4 bdrm with 3 full baths has the highly sought after MIL or guest suite with full kitchen and bath. Recent updates include quartz counters, new wood look flooring, SS appliances, recently installed horizontal fencing for large backyard. Covered patio area provides a great outdoor entertaining area overlooking large fenced backyard. MIL Suite has separate entrance and home has extended paved parking area at rear garage allowing for multiple vehicles. Spacious home filled with natural light in Plano ISD close to UTD, shopping, dining and super easy access to Tollway, 190, 635 and 75. Home is walking distance to Greenbelt, City hike and bike Trail!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highlands of McKamy

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k426k

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

Neighborhood: Highlands of McKamy

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472837

* 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
Jackson Elementary School Primary Regular 594 54 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Jackson Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 54
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,337
Property Tax -$760
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$125

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$385,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2303$2,2954$2,3005$2,495
$2,495
RENT COMPS ANALYSIS
  • 7328 Frankford Road Dallas, TX 2
    • 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.98
    •  
  • 17922 Hillcrest Road Dallas, TX 1
    • 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1983
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 7301 Highland Heather Lane Dallas, TX 3
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1992
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
  • 7616 Worthing Street Dallas, TX 4
    • 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 1994
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
  • 7211 Dogwood Creek Lane Dallas, TX 5
    • 3 beds 3 baths ∙ 2,419 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,419 Sqft ∙ Built 1995
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.03
    •  
PROPERTY LISTING DETAILS
Deborah Jackson
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517017
Last Updated: 02/11/2021
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