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7599 Petersburgh Place Frisco, TX 75035

3 Beds 2 Baths 1,785 sqft Built 2004

$350,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $196.08
  • 4 Days on Market
  • MLS # : 14502200
  • Updated Date : 01/21/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Hardin & Associates Realtors

Listing Agent's Description

East facing Home in prestigious Queens Gate! Frisco ISD. Low maintenance and easy living at its finest. This three bedroom open concept home features a large 18x18 living room, tall ceilings, and is surrounded by windows allowing tons of natural light. Kitchen is a chefs dream with gorgeous granite countertops and stainless appliances. Spacious master bedroom paired with a gorgeous master bathroom and HUGE closet. Two additional large bedrooms and secondary bath complete the floorplan. New water heater 2016. New roof 2017. New HVAC 2018. New floors and paint 2020. Bathroom remodel 2018. No Carpet! HOA has parks and community pool. Ideal location just minutes from DNT, 121, Star in Frisco, Shops of Legacy.

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: Queen's Gate

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Queen's Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Christie Elementary School Primary Regular 685 48 4
Adelle R. Clark Middle School Middle Regular 853 65 8
Centennial High School High Regular 2,065 138 9

Christie Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 48
4
GreatSchools Rating

Adelle R. Clark Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 65
8
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,065
  • # of teachers: 138
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,216
Property Tax -$694
Property Insurance -$130
HOA -$55
Property Management Fees -$99
CASH FLOW
-$233

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.

$350,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9504$1,9605$2,000
$2,000
RENT COMPS ANALYSIS
  • 7599 Petersburgh Place Frisco, TX 4
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.10
    •  
  • 7569 Glasshouse Walk Frisco, TX 1
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2004
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 7684 Glasshouse Walk Frisco, TX 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2004
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
  • 7514 Saint Stephens Square Frisco, TX 3
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.09
    •  
  • 7550 Saint Stephens Square Frisco, TX 5
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
PROPERTY LISTING DETAILS
Tyler Demando
Hardin & Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502200
Last Updated: 01/21/2021
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