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1017 Church Street Mckinney, TX 75069

4 Beds 3 Baths 2,046 sqft Built 2021

$475,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $232.16
  • 2 Days on Market
  • MLS # : 14528540
  • Updated Date : 03/20/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,046 sqft
  • Baths : 2 full , 1 half
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

NEW CONSTRUCTION! One story! Corner Lot! Just minutes from Historic Downtown Mckinney! Brick elevation home with 4 bedrooms and 2.5 bathrooms! HIGH END features of this home include, White Quartz countertops, Gorgeous custom white cabinets with glass cutouts, wood like grey tiled floors, Stainless Steel appliances, HUGE kitchen Island with custom pendent lighting, double pain windows, tankless water heater, low flow commodes, gas cooktop with vent hood, Wood and wrought iron fences, front porch and covered back patio, pre-wired for security with ring doorbell, oversized garage, open concept floor plan and much much more..... home has an estimated completion date of April 15, 2021.

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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: Coleman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $76k344k

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

Neighborhood: Coleman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8222051

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,650
Property Tax -$895
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$1,159

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$127,875

INVESTMENT

$127,875

Down Payment
$118,750
Rehab Estimate
$2,000
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6754$1,9005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1017 Church Street Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.80
    •  
  • 1116 Firewheel Place Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2001
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 2332 Glenhaven Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2002
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.99
    •  
  • 1201 N Tennessee Street Mckinney, TX 4
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2018
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
  • 1504 Walnut Creek Drive Mckinney, TX 5
    • 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2020
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.02
    •  
PROPERTY LISTING DETAILS
Heather Baker
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528540
Last Updated: 03/20/2021
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