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8453 Grand Canyon Drive Plano, TX 75025

3 Beds 3 Baths 2,231 sqft Built 1997

$389,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $174.36
  • 4 Days on Market
  • MLS # : 14480037
  • Updated Date : 12/05/2020 at 22:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. SELLER WILL REVIEW OFFERS MONDAY AT 5PM. Move-in ready 3 bed 2.5 bath on premium lot feeding 10 out of 10 rated Skaggs Elementary, Rice, Jasper & Plano West. Immaculately maintained by 1 owner for the last 20 years. Soaring ceilings, fresh interior paint & abundant natural light greet you upon entry. Custom plantation shutters & fresh paint throughout 1st floor. Kitchen has granite, island & ss app. 16+SEER HVAC & furnace-2020, electric-2019 & water heater-2018. Rare lot w sparkling pool resurfaced in 2018 + lg grassy yard. Upstairs bathrooms fully remodeled-2019. Location can't be beat just off 121 min from Legacy West, Toyota & The Star in Frisco.

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: Courtyard at Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Courtyard at Russell Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11143378

* 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
Skaggs Elementary School Primary Regular 474 32 10
Rice Middle School Middle Regular 1,176 66 10
Jasper High School High Regular 1,406 76 9

Skaggs Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 32
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,435
Property Tax -$662
Property Insurance -$156
HOA -$28
Property Management Fees -$99
CASH FLOW
-$231

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.

$389,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.1%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 8453 Grand Canyon Drive Plano, TX 5
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 8313 Fountain Ridge Drive Plano, TX 1
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1997
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 8848 Canyonlands Drive Plano, TX 2
    • 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 1995
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 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
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 3000 Mill Ridge Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1997
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Maria Rincon
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480037
Last Updated: 12/05/2020
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