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9832 Promontory Drive Frisco, TX 75035

5 Beds 3 Baths 3,251 sqft Built 2005

$499,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $153.49
  • 1 Days on Market
  • MLS # : 14532590
  • Updated Date : 03/13/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,251 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Impressive well maintained one owner 5 bed 3.5 bath in Tuscany Meadows. This home sits on a prime lot and is just within minutes of the Frisco Athletic Center and waterpark in amazing Frisco ISD! Light, bright open floor plan. Formal living & dining, granite; extensive hardwoods; FRESH PAINT; Kitchen features large granite island. Huge game room & media room up. Large living areas, bedrooms, and closets. Vaulted ceilings throughout. Extra large utility. Pool sized back yard with a fabulous pergola great for entertaining outdoors. Extended 3 car garage. Close to schools, shopping & restaurants; 5 min. to Stonebriar Mall. Walk to neighborhood park.

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: Tuscany Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Tuscany Meadows

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
Shawnee Trail Elementary School Primary Regular 584 36 6
Adelle R. Clark Middle School Middle Regular 853 65 8
Lebanon Trail High School High Unknown NA

Shawnee Trail Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 36
6
GreatSchools Rating

Adelle R. Clark Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 65
8
GreatSchools Rating

Lebanon Trail High School

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

$449,100$548,900$499,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,733
Property Tax -$989
Property Insurance -$215
HOA -$36
Property Management Fees -$99
CASH FLOW
-$542

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.

$499,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,544

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5003$2,5304$2,5995$2,700
$2,700
RENT COMPS ANALYSIS
  • 9832 Promontory Drive Frisco, TX 3
    • 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.78
    •  
  • 9916 Knoll Trace Way Frisco, TX 1
    • 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.71
    •  
  • 5620 Sky Ridge Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 5568 Imperial Meadow Drive Frisco, TX 4
    • 5 beds 4 baths ∙ 3,222 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,222 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.81
    •  
  • 10070 Teal Hollow Drive Frisco, TX 5
    • 5 beds 4 baths ∙ 3,222 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,222 Sqft ∙ Built 2006
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jacque Trulock
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532590
Last Updated: 03/13/2021
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