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8212 Wharf Street Frisco, TX 75035

3 Beds 3 Baths 2,767 sqft Built 1995

$410,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $148.17
  • 4 Days on Market
  • MLS # : 14530246
  • Updated Date : 03/11/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,767 sqft
  • Baths : 2 full , 1 half
Listing Agent

Covenant Realty Services

Listing Agent's Description

Welcome to this spacious 2story house in prime Frisco location. The home features soaring ceilings in the entry and living area. The kitchen is a chef's dream with stainless steel appliances and a top of the line Range with induction cooktop and convection oven. Relax in your new generous downstairs Master bedroom, featuring a large walk in closet and a serene master bathroom with separate garden tub and shower. Upstairs you will find a game room overlooking the lower level and a gallery walkway to the 2 secondary bedrooms and full bathroom with double vanity. Behind the bathroom mirror is a laundry shoot, which conveniently leads into the cabinet above the washer. This home is situated on a corner lot.

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

Neighborhood: Preston Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Preston Lakes

NeighborhoodNIR 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
Bessie Gunstream Elementary School Primary Regular 698 42 8
Cal And Walt Wester Middle School Middle Regular 878 69 9
Centennial High School High Regular 2,065 138 9

Bessie Gunstream Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
8
GreatSchools Rating

Cal And Walt Wester Middle School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 69
9
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,065
  • # of teachers: 138
9
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,424
Property Tax -$813
Property Insurance -$187
HOA -$15
Property Management Fees -$99
CASH FLOW
-$317

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.

$410,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.2%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,297

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,2204$2,3005$2,320
$2,320
RENT COMPS ANALYSIS
  • 8212 Wharf Street Frisco, TX 3
    • 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.80
    •  
  • 8100 Bells Street Frisco, TX 1
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1994
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 11808 Rocky Point Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 1997
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.80
    •  
  • 9886 Bradford Grove Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 2,742 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,742 Sqft ∙ Built 2003
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 12260 Cajun Drive Frisco, TX 5
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2003
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.88
    •  
PROPERTY LISTING DETAILS
Subhash Samuel
Covenant Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530246
Last Updated: 03/11/2021
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