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8222 Plumbago Way Dallas, TX 75252

3 Beds 2 Baths 2,115 sqft Built 2019

$495,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $234.04
  • 2 Days on Market
  • MLS # : 14473733
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,115 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

This 2019 built 1-story Beazer home offers the best of both worlds: barely lived-in new construction but with customizations such as built-in cabinets in office, custom closet system in master closet, fan added to the patio,& blinds throughout. This home offers 2 secondary bedrooms, a large master bedroom with sitting area & SEPARATE OFFICE! The master has a beautiful on-suite bathroom with dual sinks & spacious shower. It has 2 closets, one off the sitting area & a large walk-in off the bathroom. The kitchen has upgraded pull-out cabinets, a beautiful herringbone patterned backsplash & large island. The kitchen opens onto the dining & living room, perfect for entertaining. Enjoy the extended covered patio!

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: Richardson

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k411k

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

Neighborhood: Richardson

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472872

* 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
Mohawk Elementary School Primary Regular 411 26 10
Mohawk Elementary School Middle Regular 411 26 10
Pearce High School High Regular 2,253 144 6

Mohawk Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 26
10
GreatSchools Rating

Mohawk Elementary School

  • Education Level: Middle
  • # of students: 411
  • # of teachers: 26
10
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,826
Property Tax -$1,174
Property Insurance -$149
HOA -$54
Property Management Fees -$99
CASH FLOW
-$633

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$495,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 3.00%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,175

INVESTMENT

$133,175

Down Payment
$123,750
Rehab Estimate
$2,000
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,702

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,6703$2,7004$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 8222 Plumbago Way Dallas, TX 2
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.26
    •  
  • 17753 Agave Lane Dallas, TX 1
    • 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2018
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.27
    •  
  • 1225 Naples Drive Richardson, TX 3
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2013
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.30
    •  
  • 17558 Sequoia Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2019
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.29
    •  
  • 17541 Sequoia Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2018
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.25
    •  
PROPERTY LISTING DETAILS
Shannon Silveira Stupay
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473733
Last Updated: 11/21/2020
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