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7512 Jerome Drive Plano, TX 75025

3 Beds 2 Baths 1,963 sqft Built 1982

$305,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $155.37
  • 2 Days on Market
  • MLS # : 14522272
  • Updated Date : 02/27/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,963 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Delightfully Updated Home On Corner Lot Walking Distance To Plano's Hoblitzelle Park! Fabulous Open Floor Plan With Spacious Living Room Framed By Low Brick Wall, Complete With Vaulted Ceiling & Brick Fireplace. Leads To Bright Dining Area With Wet Bar! Charming Kitchen Has White Quartz Counters, Undermount Sink, White Cabinets & Stainless Steel Appliances, As Well As Wonderful Backyard Views! A Breakfast Nook At One End Of The Kitchen Is the Perfect Spot For Your Morning Cup Of Coffee. An Oversized Master Bedroom Has A Luxurious Updated Bath: Granite Counters, Bowl Sinks, Large Shower & Freestanding Tub! The Guest Full Bath Is Also Updated With Granite Vanity & Large Tiled Shower. Anderson Windows Throughout!

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: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10892224

* 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
Beverly Elementary School Primary Regular 488 39 10
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Beverly Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 39
10
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,059
Property Tax -$519
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$38

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.

$305,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$11,792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7803$1,9754$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 7512 Jerome Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.91
    •  
  • 1105 Baxter Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1986
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 1304 Kesser Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1983
    property image
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.04
    •  
  • 1352 Kesser Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1983
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.98
    •  
  • 7512 Mullins Drive Plano, TX 5
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1984
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
PROPERTY LISTING DETAILS
Terri Mccoy
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522272
Last Updated: 02/27/2021
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