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10705 Smithville Place Mckinney, TX 75071

5 Beds 4 Baths 3,203 sqft Built 2017

$475,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.30
  • 3 Days on Market
  • MLS # : 14535083
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,203 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Stunning D.R. Horton situated in the master-planned community of Highlands at Westridge. This home has everything you could ever need with extensive hardwood floors & expansive floor plan. Enjoy hosting parties in the spacious formal dining room which opens to the kitchen & living area. The beautiful gourmet inspired kitchen is accented by granite c-tops, Frigidaire stainless appls, & large island for gathering. The secluded owner's suite is conveniently on the 1st floor along with 2 secondary bedrooms and full bath. There's plenty of space to entertain upstairs with a spacious game room and home theater. The Reserve at Westridge offers amenities galore to match every lifestyle! This home is being sold As-Is.

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
 

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

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,650
Property Tax -$895
Property Insurance -$212
HOA -$55
Property Management Fees -$99
CASH FLOW
-$300

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$10k-$5.0k$0.0$5.0k$10k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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

1.5

YEARS SAVED

$4,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,779

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5503$2,6104$2,8955$3,000
$3,000
RENT COMPS ANALYSIS
  • 10705 Smithville Place Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,203 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,203 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.81
    •  
  • 10601 Fort Stockton Place Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,034 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,034 Sqft ∙ Built 2017
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 10721 Troutt Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,050 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,050 Sqft ∙ Built 2016
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.84
    •  
  • 10712 Marble Falls Place Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,203 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,203 Sqft ∙ Built 2017
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.90
    •  
  • 11805 Smithton Avenue Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,298 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,298 Sqft ∙ Built 2016
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kim Sunlin
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535083
Last Updated: 03/19/2021
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