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9904 Concord Drive Frisco, TX 75035

3 Beds 2 Baths 1,648 sqft Built 1988

$315,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $191.14
  • 4 Days on Market
  • MLS # : 14512010
  • Updated Date : 02/06/2021 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

MULTIPLE OFFERS RECEIVED HIGHEST AND BEST DUE 2-7 BY NOON - Stunning and cozy describe this beautifully updated home in Preston Vineyards! From the entry to the exit and the floor to the ceiling, everything has been updated: Flooring and paint throughout, cabinets, countertops, appliances, HVAC and ducts, insulation, energy efficient vinyl windows, levolor blinds, tankless water heater and electrical were all updated in 2019. This home boasts LVP flooring, quartz countertops in kitchen AND baths, master bath remodeled with oversized shower, raised bowl dual sink vanity and expanded master closet. All bedrooms have LVP flooring. Outback you’ll find large covered patio with stained fence, this one is a must see!

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: Preston Vineyards

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Preston Vineyards

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 Regular 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,094
Property Tax -$624
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$190

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.

$315,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,755

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7603$1,8754$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 9904 Concord Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 9912 Bordeaux Avenue Frisco, TX 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1989
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.07
    •  
  • 6716 Gamay Circle Frisco, TX 3
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1992
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.05
    •  
  • 10505 Napa Valley Drive Frisco, TX 4
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1991
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
  • 10421 Burgundy Drive Frisco, TX 5
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1992
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Robyn Heathcock
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512010
Last Updated: 02/06/2021
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