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7920 Clark Springs Drive Plano, TX 75025

5 Beds 3 Baths 3,010 sqft Built 1993

$419,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $139.50
  • 4 Days on Market
  • MLS # : 14517697
  • Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,010 sqft
  • Baths : 3 full
Listing Agent

Dfw Home

Listing Agent's Description

Great Location near Russell creek and Sto shopping mall. Open floor plan. Granite kitchen counter top, wood floor for family and entry, breakfast over look beautiful pool and raised spa. Master bedroom upstairs with large sitting area. New AC in 2019 and the heater for swimming pool installed on 2017.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hunters Glen North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k383k

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

Neighborhood: Hunters Glen North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262298

* 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
Bethany Elementary School Primary Regular 384 31 8
Schimelpfenig Middle School Middle Regular 957 53 9
Plano Senior High School High Regular 2,766 155 9

Bethany Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 31
8
GreatSchools Rating

Schimelpfenig Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 53
9
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,458
Property Tax -$714
Property Insurance -$201
Property Management Fees -$99
CASH FLOW
$27

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.

$419,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$21,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3954$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 7920 Clark Springs Drive Plano, TX 5
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 2401 Sky Harbor Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 1994
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 7901 Roaring Ridge Drive Plano, TX 2
    • 4 beds 3 baths ∙ 3,135 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,135 Sqft ∙ Built 1997
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 2441 London Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 1995
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.75
    •  
  • 3100 Spring Grove Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 1998
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Frank Wang
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517697
Last Updated: 02/11/2021
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