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9213 Fairwood Court Plano, TX 75025

4 Beds 3 Baths 2,618 sqft Built 1997

$430,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $164.25
  • 6 Days on Market
  • MLS # : 14534149
  • Updated Date : 03/18/2021 at 22:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,618 sqft
  • Baths : 2 full , 1 half
Listing Agent

Letshine Realty Llc

Listing Agent's Description

2 story 4 bdrm home in sought after Ridgeview Ranch! Huge back yard sit on a 0.32 acre Cul De Sac lot ! Two fire place, Sunroom and patio! Open & bright!. Formal dining. study or second living room open to family room .master bedroom has cozy corner FP & lux bath w jetted tub & sep shower. Upstairs gm rm plus 3 bdrms. 8ft board on board fence. Seller has no survey, Buyer need to order it at buyer's cost.

SEE MORE

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: Fairways of Ridgeview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k389k

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

Neighborhood: Fairways of Ridgeview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262326

* 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
Naoma And M. Allen Anderson Elementary School Primary Regular 684 41 10
Billy Vandeventer Middle School Middle Unknown NA
Liberty High School High Regular 2,039 137 9

Naoma And M. Allen Anderson Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 41
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,494
Property Tax -$732
Property Insurance -$178
HOA -$33
Property Management Fees -$99
CASH FLOW
-$255

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.

$430,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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-$8.0k-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,872

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,310

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,2504$2,2805$2,495
$2,495
RENT COMPS ANALYSIS
  • 9213 Fairwood Court Plano, TX 4
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.87
    •  
  • 8824 Clear Sky Drive Plano, TX 1
    • 4 beds 2 baths ∙ 2,418 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,418 Sqft ∙ Built 1992
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 2616 Oakland Hills Drive Plano, TX 2
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1999
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 9313 Dark Forest Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2001
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 2636 Zoeller Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1997
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
PROPERTY LISTING DETAILS
Yao Chen
Letshine Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534149
Last Updated: 03/18/2021
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