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1101 Tuscany Court Mckinney, TX 75071

3 Beds 3 Baths 3,302 sqft Built 2005

$599,900

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $181.68
  • 2 Days on Market
  • MLS # : 14467620
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,302 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Beautiful Darling built 1 story home on a huge yard in a cul de sac of Lacima Haven in Stonebridge. A gated courtyard welcomes you. Wood floors throughout main parts of the home. Barrel ceiling in the foyer. Kitchen is a dream kitchen with a large island and walk in pantry. Double ovens, gas cook top and tons of cabinet space! Kitchen and nook are open to family room and that has a wall of windows looking out to the pool hot tub and veranda. Game room has an entrance to other back yard with outdoor living space and fireplace. Master connects to utility and sunroom! Study has bult in cabinets and desk with entrance to veranda. Well landscaped and private! Pebble tech pool and hot tub.

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: Lacima Haven

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k591k

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

Neighborhood: Lacima Haven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11263872

* 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
Wilmeth Elementary School Primary Regular 635 40 9
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Wilmeth Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
9
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,213
Property Tax -$1,130
Property Insurance -$218
HOA -$67
Property Management Fees -$99
CASH FLOW
-$867

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.

$599,900

PROJECTED PRICE

$2,860

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$15k-$10k-$5.0k$0.0$5.0k

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,914

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6953$2,8604$2,9955$3,300
$3,300
RENT COMPS ANALYSIS
  • 1101 Tuscany Court Mckinney, TX 3
    • 3 beds 3 baths ∙ 3,302 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,302 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $0.87
    •  
  • 419 Scarlet Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 1999
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
  • 900 Hidden Springs Court Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
  • 7805 Saint Clair Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,313 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,313 Sqft ∙ Built 2016
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
  • 901 Canyon Wren Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,463 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,463 Sqft ∙ Built 2003
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Benny Dinsmore
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467620
Last Updated: 11/07/2020
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