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7925 Clark Springs Drive Plano, TX 75025

4 Beds 3 Baths 3,228 sqft Built 1992

$490,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $151.80
  • 2 Days on Market
  • MLS # : 14459802
  • Updated Date : 11/07/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,228 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

This remarkable home sits on an oversized corner lot that is just under a quarter acre. Features include: 12 ft. board on board privacy fence surrounding the property, automatic gate, SS appliances, two fireplaces (indoor+outdoor), 3,228 SqFt of beautiful living area and an amazing outdoor pool & entertaining space. Nestled amongst the trees, this magnificent property is ready for you to call it home! Close to shopping, and feeds into the wonderful PLANO ISD school system. This 4 bedroom, 2.1 bathroom home will not last long! Outdoor shed to stay with property!

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
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,808
Property Tax -$834
Property Insurance -$214
Property Management Fees -$99
CASH FLOW
-$624

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.

$490,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.48%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$247

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,445

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,3503$2,3954$2,5005$2,795
$2,795
RENT COMPS ANALYSIS
  • 7925 Clark Springs Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.72
    •  
  • 3108 Congress Avenue Plano, TX 2
    • 4 beds 3 baths ∙ 3,343 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,343 Sqft ∙ Built 1992
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.70
    •  
  • 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
    •  
  • 7813 Constitution Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,343 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,343 Sqft ∙ Built 1993
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 7705 Case Drive Plano, TX 5
    • 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 1991
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.83
    •  
PROPERTY LISTING DETAILS
Andrew Levin
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459802
Last Updated: 11/07/2020
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