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7909 Country Ridge Lane Plano, TX 75024

3 Beds 3 Baths 1,967 sqft Built 1999

$349,500

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $177.68
  • 2 Days on Market
  • MLS # : 14496943
  • Updated Date : 01/09/2021 at 12:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,967 sqft
  • Baths : 2 full , 1 half
Listing Agent

Park One Properties

Listing Agent's Description

Don't Delay! Terrific NW Plano Home! Recently Renovated! Flooring, Appliances, Paint and fixtures! This cozy garden home looks just like new! Three bedroom, two and one half bath, two story. The Master suite is downstairs. A perfect location in far northwest Plano just minutes away from work, shopping, and entertainment. Close to Stonebriar Mall, EDS, JC Penny, Dr. Pepper, Frito Lay, The Hall Office Park, Frisco Star, Legacy Village, Legacy West, Heritage Yards ball fields and so much more. A secluded subdivision with green space for quiet walks. Quick trip to Tollway or Preston Rd. The Refrigerator is available with the property. Please schedule and be prompt. Please wear face covering while on property.

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: Villages of Preston Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k392k

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

Neighborhood: Villages of Preston Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262244

* 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
Jessie Marie Riddle Elementary School Primary Regular 753 42 8
Pat And Catherine Fowler Middle School Middle Regular 1,001 67 10
Lebanon Trail High School High Regular NA

Jessie Marie Riddle Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
8
GreatSchools Rating

Pat And Catherine Fowler Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 67
10
GreatSchools Rating

Lebanon Trail High School

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

$314,550$384,450$349,500

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,214
Property Tax -$595
Property Insurance -$141
HOA -$21
Property Management Fees -$99
CASH FLOW
-$140

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.

$349,500

PROJECTED PRICE

$1,930

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,368

INVESTMENT

$98,368

Down Payment
$87,375
Rehab Estimate
$5,750
Closing Costs
$5,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,375
Loan Amount $262,125
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9303$1,9504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 7909 Country Ridge Lane Plano, TX 2
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.98
    •  
  • 4408 Pearl Court Plano, TX 1
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1997
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
  • 4405 Lone Rock Court Plano, TX 3
    • 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1998
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 4413 Giovanni Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1997
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 4409 Lone Rock Court Plano, TX 5
    • 4 beds 2 baths ∙ 2,015 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,015 Sqft ∙ Built 1997
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Michael Beck
Park One Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496943
Last Updated: 01/09/2021
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