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8421 Mesa Verde Drive Plano, TX 75025

4 Beds 2 Baths 2,162 sqft Built 1996

$359,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $166.05
  • 4 Days on Market
  • MLS # : 14484138
  • Updated Date : 12/11/2020 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

31 Realty, Llc

Listing Agent's Description

Highly sought after Russell Creek area! Exemplary school. Well maintained 4 Bedroom, 2 baths plus study. Open floor plan. Very nice hardwood floor throughout the home except for the tile in the wet area. SS appliance. Newly stained backyard fence, new AC new water heater, new garage door system. Conveniently located in the fast-growing area. Lots of amenities nearby. Close to highway 121.

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: Villages of Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k403k

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

Neighborhood: Villages of Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262468

* 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
Andrews Elementary School Primary Regular 699 47 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Andrews Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 47
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,325
Property Tax -$611
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
-$46

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.

$359,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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-$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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,135

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0953$2,1004$2,1405$2,150
$2,150
RENT COMPS ANALYSIS
  • 8421 Mesa Verde Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.99
    •  
  • 2508 Allegro Lane Plano, TX 1
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1998
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 2425 Ravenhurst Drive Plano, TX 2
    • 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1998
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.01
    •  
  • 8805 Casa Grande Drive Plano, TX 3
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 1996
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 8820 Clear Sky Drive Plano, TX 5
    • 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 1992
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Sam Shao
31 Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484138
Last Updated: 12/11/2020
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