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845 Harvest Glen Drive Plano, TX 75023

4 Beds 2 Baths 1,529 sqft Built 1981

$278,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $181.82
  • 6 Days on Market
  • MLS # : 14491765
  • Updated Date : 12/29/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,529 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Plano one-story home offers a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k370k

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

Neighborhood: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10062224

* 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
Christie Elementary School Primary Regular 706 62 5
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Christie Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 62
5
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,026
Property Tax -$473
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
-$23

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.

$278,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.5%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6905$1,850
$1,850
RENT COMPS ANALYSIS
  • 845 Harvest Glen Drive Plano, TX 4
    • 4 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.11
    •  
  • 809 Cambridge Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1979
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 816 Whitehall Drive Plano, TX 2
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 860 Harvest Glen Drive Plano, TX 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 716 Middle Cove Drive Plano, TX 5
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1983
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491765
Last Updated: 12/29/2020
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