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10501 Wagon Wheel Way Mckinney, TX 75072

3 Beds 3 Baths 2,266 sqft Built 2015

$379,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $167.65
  • 3 Days on Market
  • MLS # : 14533731
  • Updated Date : 03/19/2021 at 11:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,266 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Tastefully updated home on an oversized semi culdesac lot. Huge pergola wonderfully shaded in the hot summer evenings. Beautiful engineered hardwood floors throughout main living areas and kitchen. Large walk-in pantry. Plenty of room for a pool in the backyard. More photos to come Friday afternoon. Show away. This home won't last long.

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: 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
Judy Rucker Elementary School Primary Regular 781 47 8
Hays Middle School Middle Unknown NA
Prosper High School High Regular 1,868 120 9

Judy Rucker Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 47
8
GreatSchools Rating

Hays Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,320
Property Tax -$716
Property Insurance -$158
HOA -$58
Property Management Fees -$99
CASH FLOW
-$21

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.

$379,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2504$2,2505$2,330
$2,330
RENT COMPS ANALYSIS
  • 10501 Wagon Wheel Way Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.03
    •  
  • 10212 Old Eagle River Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2013
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 10113 Old Eagle River Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2013
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 1116 Seclusion Cove Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,409 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,409 Sqft ∙ Built 2013
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 10617 Jackson Hole Lane Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2014
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
PROPERTY LISTING DETAILS
Truman Spencer
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533731
Last Updated: 03/19/2021
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