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9312 Old Veranda Road Plano, TX 75024

4 Beds 4 Baths 3,433 sqft Built 2004

$468,500

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $136.47
  • 2 Days on Market
  • MLS # : 14477976
  • Updated Date : 11/28/2020 at 15:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,433 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Entertainers delight!Beautiful stone & brick.Shows like a model! Stunning entry w gorgeous wrought iron staircase & soaring ceilings. Neutral colors w lots of crown molding,designer touches thru-out. Stacked formals on the rght.Ktchn features SS appliances, Granite, Lge Island & eat in Ktchn.Private bkyard, 2 cvred porches to enjoy outdr living. Media Rm, Split Bdrms, Mstr down, Garden tub w sep shower & dble vanities.$39 app fee per pers over 18

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: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k485k

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

Neighborhood: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262869

* 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
Ruth Borchardt Elementary School Primary Regular 727 42 10
Pat And Catherine Fowler Middle School Middle Regular 1,001 67 10
Lebanon Trail High School High Regular NA

Ruth Borchardt Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 42
10
GreatSchools Rating

Pat And Catherine Fowler Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 67
10
GreatSchools Rating

Lebanon Trail High School

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

$421,650$515,350$468,500

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,729
Property Tax -$797
Property Insurance -$226
HOA -$83
Property Management Fees -$99
CASH FLOW
-$224

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.

$468,500

PROJECTED PRICE

$2,710

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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-$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$129,903

INVESTMENT

$129,903

Down Payment
$117,125
Rehab Estimate
$5,750
Closing Costs
$7,028

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,729

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,125
Loan Amount $351,375
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,712

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6963$2,7004$2,7105$2,750
$2,750
RENT COMPS ANALYSIS
  • 9312 Old Veranda Road Plano, TX 4
    • 4 beds 4 baths ∙ 3,433 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,433 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.79
    •  
  • 4125 Waskom Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,355 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,355 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.77
    •  
  • 9109 Warm Springs Circle Plano, TX 2
    • 4 beds 4 baths ∙ 3,386 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,386 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,696
    • $0.80
    •  
  • 4073 White Porch Road Plano, TX 3
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2004
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.79
    •  
  • 4105 Wind Dance Circle Plano, TX 5
    • 4 beds 4 baths ∙ 3,444 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,444 Sqft ∙ Built 2005
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Zola Marzett
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477976
Last Updated: 11/28/2020
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