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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $155.13
- 5 Days on Market
- MLS # : 14471633
- Updated Date : 11/25/2020 at 09:16
CONSTRUCTION
- Beds : 3
- Floor Size : 2,320 sqft
- Baths : 3 full
Listing Agent
Keller Williams No. Collin Cty
Listing Agent's Description
CUSTOM Darling built home in HIGHLY sought after LAKE POINT Sub. featuring 3 parks, catch & release fishing at PRIVATE lake. WELL MAINTAINED home features high end wood laminate floors in MAIN AREAS & BEDROOMS. Tile in all wet areas. KITCHEN feat. GRANITE counter tops, & abundance of cabinets & counter space. NEW REFRIGERATOR to convey. Kitchen overlooks spacious FAMILY RM w. gas fp & wall of builtins. ALL BEDROOMS have private baths. ATRIUM makes great office or sitting area. ROOF replaced 2017. Many QUALITY upgrades. SPACIOUS & GRACIOUS this home won't last long. BONUS is the neighborhood! Intimate ENCLAVE of QUALITY homes. Part of master planned community of STONEBRIDGE with its great amenities!! MUST SEE!
SEE MORE
- 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: Lake Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,328 |
| Property Tax | -$678 | |
| Property Insurance | -$161 | |
| HOA | -$178 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$284
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$359,900
PROJECTED PRICE
$2,160
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 2.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.00% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$101,124
LOAN DETAILS
$1,328
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $89,975 |
| Loan Amount | $269,925 |
0.42
YEARS SAVED
$585
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,169
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
1003 Lake Point Circle Mckinney, TX 4
- 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $2,160
- $0.93
-
5103 Quail Ridge Drive Mckinney, TX 1
- 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991
LEASED 02/03/20- Rent
- Rent Per SQFT
- $1,900
- $0.88
-
5215 Quail Creek Drive Mckinney, TX 2
- 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991
LEASED 10/07/20- Rent
- Rent Per SQFT
- $2,030
- $0.95
-
1530 Timber Edge Mckinney, TX 3
- 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1996
LEASED 07/16/20- Rent
- Rent Per SQFT
- $2,100
- $0.94
-
5005 Quail Creek Drive Mckinney, TX 5
- 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 1993
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,250
- $0.97
PROPERTY LISTING DETAILS
Keller Williams No. Collin Cty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14471633
Last Updated: 11/25/2020
