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10529 Matador Drive Mckinney, TX 75072

4 Beds 4 Baths 2,859 sqft Built 2011

$375,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $131.16
  • 4 Days on Market
  • MLS # : 14465305
  • Updated Date : 11/07/2020 at 07:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,859 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Sensational 4 Bedroom North Facing Home Ticks Off All The Boxes: Frisco ISD, Wood Floors, Open Floor Plan, Master Down, Game Room, Media Room, Custom Cedar Garage Door And More! Gourmet Kitchen Will Delight Any Chef With Its 5 Burner Gas Range, SS Appliances, Walk-In Pantry And Amazingly Large Island With Plenty Of Seating! It Flows To A Spacious Living Room With A Cast Stone Gas Log Fireplace As Its Focal Point, Plus Great Backyard Views. It's A Home Made For Entertaining As Well As Cozy Family Living - Just In Time For The Holidays. Master Suite Is Private, Featuring Backyard Views And A Wonderful Master Bath! Upstairs You'll Find A Sunny Game Room, Perfect Media Room Plus 3 Bedrooms, 1 With Private Bath!

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: Heights at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k364k

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

Neighborhood: Heights at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262292

* 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
Mooneyham Elementary School Primary Regular 791 44 8
Sam And Ann Roach Middle School Middle Regular 963 68 10
Heritage High School High Regular 1,844 125 9

Mooneyham Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 44
8
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,384
Property Tax -$706
Property Insurance -$192
HOA -$35
Property Management Fees -$99
CASH FLOW
-$296

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.

$375,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.57%

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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,101

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1004$2,1205$2,200
$2,200
RENT COMPS ANALYSIS
  • 10529 Matador Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,859 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,859 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.74
    •  
  • 10604 Colfax Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2007
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 10509 Bolivar Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2008
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 10609 Matador Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2010
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 10512 Bolivar Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 2010
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
PROPERTY LISTING DETAILS
Terri Mccoy
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465305
Last Updated: 11/07/2020
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