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7840 Buffaloberry Road Frisco, TX 75035

4 Beds 4 Baths 3,385 sqft Built 2021

INVESTimate

$549,900

List Price

$3,020

$2,770 - $3,270

Rent Est.

$582,179  ( +5.87%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Built In 2021
  • Price/Sqft : $162.45
  • 10 Days on Market
  • MLS # : 14414947
  • Updated Date : 08/26/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,385 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

Beautiful 2 story with a very modern and contemporary front elevation coming with brick and stone. 42 in. cabinets, wood flooring, fireplace, master retreat, vaulted ceilings with beam in master and family room, pattern carpet, large walk-in shower with mud pan and seat in master bath, plumbed for a sink in utility room, stubbed for gas, and already wired for TV on the covered patio plus much more.***PHOTOS ARE REPRESENTATIVE***

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

Zip Code: 75035

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Zip Code: 75035

ZipNIR 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
Mcspedden Elementary School Primary Regular 516 30 NA
Lawlor Middle School Middle Regular NA
Liberty High School High Regular 2,039 137 9

Mcspedden Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 30
NA
GreatSchools Rating

Lawlor Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,029
Property Tax -$918
Property Insurance -$223
HOA -$180
Property Management Fees -$99
CASH FLOW
-$429

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$549,900

PROJECTED PRICE

$3,020

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.87%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,724

INVESTMENT

$147,724

Down Payment
$137,475
Rehab Estimate
$2,000
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,047

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,0203$3,1004$3,1905$3,495
$3,495
RENT COMPS ANALYSIS
  • 7840 Buffaloberry Road Frisco, TX 2
    • 4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $0.89
    •  
  • 6762 Hunters Parkway Frisco, TX 1
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 8712 Fairway Lane Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,444 Sqft ∙ Built 2019 5 beds 4 baths ∙ 3,444 Sqft ∙ Built 2019
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.90
    •  
  • 14800 Kemps Frisco, TX 4
    • 4 beds 5 baths ∙ 3,727 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,727 Sqft ∙ Built 2017
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.86
    •  
  • 14841 Germantown Lane Frisco, TX 5
    • 4 beds 4 baths ∙ 3,429 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,429 Sqft ∙ Built 2016
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.02
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414947
Last Updated: 08/26/2020
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