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10533 Matador Drive Mckinney, TX 75072

4 Beds 4 Baths 3,223 sqft Built 2009

$399,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $124.08
  • 3 Days on Market
  • MLS # : 14489544
  • Updated Date : 12/26/2020 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,223 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Home Faces North - Polished Home Nestled In The Westridge Community! The Perfect Floor Plan For Entertaining With Open Floor Plan. Gleaming Wood Floors Mix With Tile Floors Down For An Elegant Look And Easy Care. Enchanting Gourmet Kitchen Is The Place To Gather With Huge Granite Island Flowing To Tons Of Storage And Counter Space. Spacious Living Room Features Cozy Gas Log Fireplace And Leads To An Impressive Master Suite Affording Backyard Views And Update Bath With Huge Walk-in Closet. Upstairs Is A Media Room And Separate Music Studio: Soundproofed With Solid Core Door Providing A 30db Sound Reduction, Plus Its Own Light Flow AC-Heat Vent. You'll Also Enjoy A Game Room And 3 Bedrooms, 1 With Ensuite 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,475
Property Tax -$753
Property Insurance -$213
HOA -$36
Property Management Fees -$99
CASH FLOW
-$337

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.

$399,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.56%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,425

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,2404$2,4005$2,800
$2,800
RENT COMPS ANALYSIS
  • 10533 Matador Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,223 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,223 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.70
    •  
  • 10400 Matador Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2007
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.69
    •  
  • 1904 Lanshire Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2005
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 10437 Bolivar Drive Mckinney, TX 4
    • 5 beds 4 baths ∙ 3,098 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,098 Sqft ∙ Built 2007
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 10817 Grecian Drive Mckinney, TX 5
    • 4 beds 5 baths ∙ 3,393 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,393 Sqft ∙ Built 2015
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
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 #: 14489544
Last Updated: 12/26/2020
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