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8304 Tavaros Drive Plano, TX 75024

4 Beds 2 Baths 1,998 sqft Built 1993

$350,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $175.18
  • 4 Days on Market
  • MLS # : 14530959
  • Updated Date : 03/27/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,998 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Wonderful 4 bedroom home plus Flex room. Zoned for Top rated Plano ISD schools. Open floor plan with beautiful wood floors and filled with natural light. Oversized living room with vaulted ceilings and fireplace. Spacious Kitchen with island and plenty of storage. Large master suite on opposite side of the house from the other 3 bedrooms - a true split bedroom floor plan. Additional Flex room to meet your family's needs; formal, dining, office or playroom. New Roof (2016), Trane HVAC and more. No HOA. Conveniently located. Close to Shopping, Dining, Shops At Legacy, SRT 121, DN Tollway, Walking trails, Parks, and Exemplary schools. Move in ready. You will love this well maintained home. Come see today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Wyatt Elementary School Primary Regular 512 36 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Wyatt Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 36
10
GreatSchools Rating

Rice Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 66
10
GreatSchools Rating

Jasper High School

  • Education Level: High
  • # of students: 1,406
  • # of teachers: 76
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,216
Property Tax -$596
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$113

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.

$350,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9404$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 8304 Tavaros Drive Plano, TX 3
    • 4 beds 2 baths ∙ 1,998 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,998 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.97
    •  
  • 4108 Norcross Drive Plano, TX 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1988
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 4436 Burnhill Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1998
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 3841 Rolling Hills Drive Plano, TX 4
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 8708 Digby Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1993
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Anna Henderson
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530959
Last Updated: 03/27/2021
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