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7609 Junegrass Lane Frisco, TX 75035

4 Beds 3 Baths 3,087 sqft Built 2005

$399,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $129.25
  • 3 Days on Market
  • MLS # : 14492371
  • Updated Date : 01/02/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,087 sqft
  • Baths : 3 full
Listing Agent

New Home Dfw

Listing Agent's Description

*** MULTIPLE OFFERS...HIGHEST & BEST JAN 3RD @ 12:00 PM***Gorgeous 4 bed, 3 bath, 3 Car Garage home sitting on Oversized Corner Lot, boasting a large backyard overlooking Vivian Stark McCallum Park. Greeted by Soaring 2 Story Ceilings, Iron Spindle Staircase & Wood Floors Throughout Downstairs. Open Concept Kitchen w granite counterstops & abundance of cabinet space overlooking the living room w a gas burning fireplace. Guest Bedroom & Full Bath Downstairs ideal for Mother-In-Law Suite. Spacious Master Retreat Upstairs w Fireplace, Wood Floors, Glass enclosed Shower, Dual sinks, Garden Tub & Large Walkin Closet. 2 Generous Sized rooms & Large Gameroom also Upstairs.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadows of Preston

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Meadows of Preston

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,472
Property Tax -$791
Property Insurance -$206
HOA -$25
Property Management Fees -$99
CASH FLOW
-$303

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.

$399,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2503$2,2904$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 7609 Junegrass Lane Frisco, TX 3
    • 4 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.74
    •  
  • 7805 Whitehart Street Frisco, TX 1
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2005
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 7858 Whitehart Street Frisco, TX 2
    • 3 beds 3 baths ∙ 2,747 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,747 Sqft ∙ Built 2005
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 9862 Red Cedar Drive Frisco, TX 4
    • 5 beds 3 baths ∙ 3,238 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,238 Sqft ∙ Built 2002
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 8345 Kings Ridge Road Frisco, TX 5
    • 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2006
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Sarah Mix
New Home Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492371
Last Updated: 01/02/2021
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