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8908 Clear Sky Drive Plano, TX 75025

4 Beds 3 Baths 2,745 sqft Built 1992

$349,900

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $127.47
  • 6 Days on Market
  • MLS # : 14463710
  • Updated Date : 11/05/2020 at 10:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,745 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Highly sought after Plano schools including Andrews Elementary. Large open kitchen opens to the main family area. High ceiling.Built Pulte home in Plano West. Multiple living areas and two large Bonus Rooms on 2nd level. Master has a jacuzzi and 2 extra-large walk-in closets Great location close to Highway121, 75 and the Tollway. Most outlets have been upgraded to GFI and the entire garage with excellent lighting & speakers. Garage attic is floored Call. Big family room and Lots of possibilities for this under-market priced beauty!!

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,291
Property Tax -$616
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
-$32

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.

$349,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1603$2,2954$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 8908 Clear Sky Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.79
    •  
  • 8800 Clear Sky Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1993
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 2421 Brycewood Lane Plano, TX 3
    • 5 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 2404 Cimmaron Drive Plano, TX 4
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 2901 Summit View Drive Plano, TX 5
    • 5 beds 3 baths ∙ 2,814 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,814 Sqft ∙ Built 1994
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.85
    •  
PROPERTY LISTING DETAILS
Amyn Ahmed
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463710
Last Updated: 11/05/2020
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