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7913 Thorneywood Road Plano, TX 75024

5 Beds 4 Baths 3,027 sqft Built 2000

$429,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $142.02
  • 6 Days on Market
  • MLS # : 14494466
  • Updated Date : 01/09/2021 at 21:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,027 sqft
  • Baths : 4 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

This is an outstanding TWO STORY beautiful property in Plano. 4 Bed , 4 full bath and Study Updated & move in ready home in Frisco ISD! New roof and HVAC. Study can be use as the second bedroom down with full bath. Spacious Master bed. Formal dining and Living area, Spacious kitchen with great natural light, and granite counter, Island for the family chef, breakfast nook and a great open living area. New tile and cooktop Laminated wood floor. Low maintenance backyard. Epoxy garage floor. Covered patio. Close to Toyota and JP Morgan Chase. All shopping areas, and eating out are within couple of miles. Must see. Property for lease too.

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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,493
Property Tax -$731
Property Insurance -$202
HOA -$42
Property Management Fees -$99
CASH FLOW
-$177

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.

$429,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.56%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2503$2,2954$2,3905$2,395
$2,395
RENT COMPS ANALYSIS
  • 7913 Thorneywood Road Plano, TX 4
    • 5 beds 4 baths ∙ 3,027 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,027 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.79
    •  
  • 7909 Thorneywood Road Plano, TX 1
    • 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1999
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 7911 Arbor Glen Trail Plano, TX 2
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2001
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.78
    •  
  • 7705 Mapleridge Drive Plano, TX 3
    • 4 beds 4 baths ∙ 3,136 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,136 Sqft ∙ Built 2003
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 7700 Paint Brush Trail Plano, TX 5
    • 4 beds 4 baths ∙ 2,884 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,884 Sqft ∙ Built 2004
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
PROPERTY LISTING DETAILS
Cherian Joseph
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494466
Last Updated: 01/09/2021
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