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9350 Ironwood Drive Frisco, TX 75033

5 Beds 4 Baths 3,988 sqft Built 2005

$619,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $155.22
  • 7 Days on Market
  • MLS # : 14503536
  • Updated Date : 01/27/2021 at 16:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,988 sqft
  • Baths : 4 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Gorgeous Frisco Pool home, These Original owners have taken excellent care of this Fabulous Custom home. Many upgrades in each room, including Natural Hardwood flooring, Granite countertops in the Kitchen and Master bathroom suite, Double ovens, Plantation Shutters, Solar screens, Granite wet bar upstairs in gameroom, Custom wine storage, Automatic sliding back gate and more. The downstairs office can easily be converted back to a secondary bedroom if needed. Please notice the extra storage inside the 3 car garage. Walk to Frisco schools, and close to every major roadway, including the Dallas North Tollway, Main street Frisco as well as shopping and the local YMCA. Hot tub is negotiable.

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: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k540k

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263337

* 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
Reba Cobb Carroll Elementary School Primary Regular 508 34 9
Robert Cobb Middle School Middle Unknown NA
Justin Wakeland High School High Regular 2,220 140 9

Reba Cobb Carroll Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 34
9
GreatSchools Rating

Robert Cobb Middle School

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

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,150
Property Tax -$1,090
Property Insurance -$258
HOA -$44
Property Management Fees -$99
CASH FLOW
-$560

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.

$619,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,150

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $3,280

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,0804$3,3005$3,800
$3,800
RENT COMPS ANALYSIS
  • 9350 Ironwood Drive Frisco, TX 3
    • 5 beds 4 baths ∙ 3,988 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,988 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $0.77
    •  
  • 3322 Woodbine Trail Frisco, TX 1
    • 4 beds 4 baths ∙ 4,000 Sqft ∙ Built 2011 4 beds 4 baths ∙ 4,000 Sqft ∙ Built 2011
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.75
    •  
  • 3518 Bellaire Court Frisco, TX 2
    • 5 beds 4 baths ∙ 3,893 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,893 Sqft ∙ Built 2012
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.77
    •  
  • 7565 Hidden Cove Lane Frisco, TX 4
    • 4 beds 4 baths ∙ 4,024 Sqft ∙ Built 2010 4 beds 4 baths ∙ 4,024 Sqft ∙ Built 2010
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 8418 Dupont Street Frisco, TX 5
    • 4 beds 5 baths ∙ 4,008 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,008 Sqft ∙ Built 2016
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tom May
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503536
Last Updated: 01/27/2021
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