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1010 Barkridge Drive Mckinney, TX 75069

4 Beds 2 Baths 1,784 sqft Built 1997

$269,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $151.29
  • 3 Days on Market
  • MLS # : 14470999
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Beautifully kept and recently updated 4 bedroom, 2 bath home in well kept, no HOA neighborhood of Eldorado Ridge. This home features beautiful vaulted ceilings, luxury vinyl plank flooring throughout main areas, and a large covered patio with built in fire pit nearby. Schedule your showing today as this one won't last long!

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: Eldorado Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k344k

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

Neighborhood: Eldorado Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9652171

* 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
Malvern Elementary School Primary Regular 540 42 3
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Malvern Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 42
3
GreatSchools Rating

Faubion Middle School

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

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$996
Property Tax -$508
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
-$73

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.

$269,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,713

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6993$1,7504$1,7955$1,845
$1,845
RENT COMPS ANALYSIS
  • 1010 Barkridge Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.93
    •  
  • 1000 Barkridge Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1995
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.91
    •  
  • 1404 Courtland Lane Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1995
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 2824 Dover Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1999
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 1027 Ridgecrest Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1996
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.98
    •  
PROPERTY LISTING DETAILS
Steve Depriest
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470999
Last Updated: 11/13/2020
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