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8711 6th Street Frisco, TX 75034

3 Beds 4 Baths 2,868 sqft Built 2020

$650,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $226.64
  • 2 Days on Market
  • MLS # : 14516187
  • Updated Date : 02/12/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,868 sqft
  • Baths : 3 full , 1 half
Listing Agent

Robert Elliott And Associates

Listing Agent's Description

Brand new modern Craftsman in the heart of Frisco Rail District! Built by Almega Homes, this is the second of three custom homes to be built on this block. A corner lot, high ceilings and high end finishes are just the beginning of this stunning home's features. Hardwoods, quartz countertops, fireplace, custom stairs, 8 ft solid core doors and Viking appliances round out this one-of-a-kind home. Opportunity to work with builder on interior finish selection. Master suite w true balcony and spa-like bath. Covered backyard patio, mud room and 3rd floor game room w wet bar! 2-car detached garage with fenced yard and automatic gate.Live steps away from shopping & patio restaurants, walk to soccer stadium, parks.

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: Frisco Original Donation

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $85k434k

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

Neighborhood: Frisco Original Donation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9452614

* 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
Ida Lee Bright Elementary School Primary Regular 551 37 3
Benton A. Staley Middle School Middle Regular 715 60 7
Frisco High School High Regular 2,136 146 8

Ida Lee Bright Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 37
3
GreatSchools Rating

Benton A. Staley Middle School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 60
7
GreatSchools Rating

Frisco High School

  • Education Level: High
  • # of students: 2,136
  • # of teachers: 146
8
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,258
Property Tax -$1,106
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$1,435

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.

$650,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,250

INVESTMENT

$174,250

Down Payment
$162,500
Rehab Estimate
$2,000
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$91

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,266

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,2204$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 8711 6th Street Frisco, TX 3
    • 3 beds 4 baths ∙ 2,868 Sqft ∙ Built 2020 3 beds 4 baths ∙ 2,868 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.77
    •  
  • 8069 Whitehart Street Frisco, TX 1
    • 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2005
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 10379 Balsam Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 2002
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 5910 Dustin Trail Frisco, TX 4
    • 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2000
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 7804 Quiet Meadow Lane Frisco, TX 5
    • 4 beds 3 baths ∙ 3,071 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,071 Sqft ∙ Built 2001
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jeff Cheney
Robert Elliott And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516187
Last Updated: 02/12/2021
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