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8713 Stoneview Drive Frisco, TX 75034

3 Beds 2 Baths 2,101 sqft Built 1995

$345,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $164.21
  • 2 Days on Market
  • MLS # : 14514403
  • Updated Date : 02/06/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,101 sqft
  • Baths : 2 full
Listing Agent

Tong-parsons Realty

Listing Agent's Description

Location!Location!Location!Beautiful home in the heart of Frisco on a corner lot in a quiet neighborhood. Woodlike floors in the living areas, dining and hallways. Open Gourmet kitchen with breakfast bar and open to a family room. Large backyard with seating area! Brand New Water heater! Must see!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stonebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k434k

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

Neighborhood: Stonebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,198
Property Tax -$684
Property Insurance -$149
HOA -$29
Property Management Fees -$99
CASH FLOW
-$139

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$345,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,522

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,138

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,965
1$1,9652$1,9753$2,0204$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 8713 Stoneview Drive Frisco, TX 3
    • 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.96
    •  
  • 7102 Fieldstone Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1994
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $1.02
    •  
  • 7108 Ledgestone Court Frisco, TX 2
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1996
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.98
    •  
  • 7114 Stoneridge Drive Frisco, TX 4
    • 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 1997
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 8410 Stoneview Drive Frisco, TX 5
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1996
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Andy Lin
Tong-parsons Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514403
Last Updated: 02/06/2021
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