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11017 Brownwood Place Mckinney, TX 75071

3 Beds 2 Baths 2,061 sqft Built 2019

INVESTimate

$369,900

List Price

$2,150

$1,935 - $2,365

Rent Est.

$395,645  ( +6.96%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $179.48
  • 7 Days on Market
  • MLS # : 14416385
  • Updated Date : 08/21/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,061 sqft
  • Baths : 2 full
Listing Agent

Askins Realty Group

Listing Agent's Description

Picture Perfect 1-Year-Old One Story with Stone, Brick, & Front Porch Elevation. Efficient Floorplan Maximizes Space and Interior Privacy. Wonderful Color Coordination and Upgrade Selections Makes This Home Feel Uniform and Together. Home Features Wood Tile Floors, Study with French Doors, Archways, Vaulted Ceilings, Beautiful Kitchen with Breakfast Bar, Dining Room with Bay Window, Quartz Counters, Stainless Appliances, Picture Windows, Spacious Family Room, and a Large Master with a 15'x9' Master Bath, Separate Vanities, Garden Tub, Walk-in Shower, and Spacious 13'x6' Master Closet Gives This Home a Larger Feel. Energy Efficient, Smart Home Enabled, LED Lights, Will Keep Monthly Utility Bills Low. Prosper ISD

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,365
Property Tax -$697
Property Insurance -$146
HOA -$47
Property Management Fees -$99
CASH FLOW
-$203

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$369,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.96%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,024

INVESTMENT

$100,024

Down Payment
$92,475
Rehab Estimate
$2,000
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,190

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,1003$2,1504$2,2005$2,299
$2,299
RENT COMPS ANALYSIS
  • 11017 Brownwood Place Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
  • 10240 Long Branch Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2017
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.09
    •  
  • 11805 Bertram Road Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 10412 Big Sandy Court Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,205 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,205 Sqft ∙ Built 2017
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 10832 Calvert Place Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 2019
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.13
    •  
PROPERTY LISTING DETAILS
Michael Askins
Askins Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416385
Last Updated: 08/21/2020
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