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1007 W White Avenue Mckinney, TX 75069

3 Beds 2 Baths 1,048 sqft Built 1991

$234,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $223.28
  • 2 Days on Market
  • MLS # : 14514630
  • Updated Date : 02/06/2021 at 17:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,048 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

Adorable 3 bedroom, 2 bath cottage in the charming Historical Downtown McKinney area. Nice, modern paint colors throughout, the kitchen has been recently updated with painted white cabinets and granite countertops. Other recent updates include the AC unit replacement, roof, both bathrooms, and laminate wood flooring throughout the home. HUGE BACKYARD with a new large storage building. The cozy covered front porch and the painted shutters add great curb appeal and character. Great location in a desired area and move in ready! Easy access to HWY 75, 380 and 121, walking distance to downtown, nearby restaurants and shopping. McKinney Boyd HS. The washer, dryer, refrigerator, and storage building will remain.

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Caldwell Elementary School Primary Regular 537 38 3
Faubion Middle School Middle Regular 976 64 7
Mckinney Boyd High School High Regular 2,881 169 8

Caldwell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 38
3
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$210,600$257,400$234,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$813
Property Tax -$441
Property Insurance -$88
Property Management Fees -$99
CASH FLOW
$80

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.

$234,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,760

INVESTMENT

$67,760

Down Payment
$58,500
Rehab Estimate
$5,750
Closing Costs
$3,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$813

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,500
Loan Amount $175,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$17,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $1,237

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5003$1,5204$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 1007 W White Avenue Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.45
    •  
  • 1813 W Josephine Street Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1971
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.18
    •  
  • 1305 N Graves Street Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1971
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 1308b Coleman Street Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1983
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.18
    •  
  • 1201 Hall Street Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2008
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.22
    •  
PROPERTY LISTING DETAILS
Cne' Hemby
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514630
Last Updated: 02/06/2021
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