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10312 Canyon Lake Mckinney, TX 75072

4 Beds 4 Baths 2,998 sqft Built 2009

INVESTimate

$400,000

List Price

$2,410

$2,169 - $2,651

Rent Est.

$410,000  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $133.42
  • 6 Days on Market
  • MLS # : 14417480
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,998 sqft
  • Baths : 3 full , 1 half
Listing Agent

Talsky Real Estate Group Llc

Listing Agent's Description

Back yard oasis in your private back yard! With a fantastic layout for entertaining and every day living, this home offers a spacious dining room, open kitchen with granite counter, gas stove and large island. Living room with soaring ceilings and bright windows that overlook the pool and patio is perfect for movie night or to host holiday guests! Three large bedrooms and two bathrooms along with a sprawling game room are located upstairs. One of the bedrooms has an en-suite and large walk in closet that would serve perfectly as a second master, guest room or Media room! The home is located in The Reserve at Westridge with Clubhouse, water slides, private pond, playground and new city park! On site Frisco ISD

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: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262413

* 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
Scott Elementary School Primary Unknown 622 38 NA
Sam And Ann Roach Middle School Middle Regular 963 68 10
Heritage High School High Regular 1,844 125 9

Scott Elementary School

  • Education Level: Primary
  • # of students: 622
  • # of teachers: 38
NA
GreatSchools Rating

Sam And Ann Roach Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 68
10
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,844
  • # of teachers: 125
9
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,476
Property Tax -$742
Property Insurance -$200
HOA -$125
Property Management Fees -$99
CASH FLOW
-$233

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.

$400,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,413

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3953$2,4104$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 10312 Canyon Lake Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.80
    •  
  • 10420 Cochron Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 2006
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
  • 10301 Cedar Breaks Mckinney, TX 2
    • 5 beds 4 baths ∙ 3,069 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,069 Sqft ∙ Built 2008
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
  • 10209 Cedar Breaks Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2009
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 10101 Ransom Ridge Road Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,029 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,029 Sqft ∙ Built 2012
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.86
    •  
PROPERTY LISTING DETAILS
Geniya Talsky
Talsky Real Estate Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417480
Last Updated: 08/21/2020
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