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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $137.48
- 4 Days on Market
- MLS # : 14521087
- Updated Date : 02/26/2021 at 14:02
CONSTRUCTION
- Beds : 4
- Floor Size : 3,455 sqft
- Baths : 3 full
Listing Agent
Exp Realty
Listing Agent's Description
MULTIPLE OFFERS RECEIVED. Deadline for highest and best offer is Sat. 2-27 @ 8:00 PM. Beautiful home in Prosper ISD! Massive backyard with room for a pool or any outdoor space your heart desires. The home has a great floor plan including a study with French doors, media room, game room, and a large bonus room to use as needed. Meticulously maintained, neutral colors throughout, and lots of storage space. Walking distance to the highly rated Hughes Elementary in Prosper ISD. Prestwick has been chosen for McKinney’s newest master planned park that is currently under construction. Prestwyck Park plans include a splash pad, multi-use sports court, interactive playground equipment, pavilions, trails, and more!
SEE MORE
- . 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: McKinney
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: McKinney
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,620 |
| EXPENSES | Loan Payment | -$1,650 |
| Property Tax | -$895 | |
| Property Insurance | -$227 | |
| HOA | -$56 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$307
|
||
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
$2,620
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
1.42
YEARS SAVED
$3,894
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,620
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$2,652
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
1120 Paluxy Lane Mckinney, TX 4
- 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $2,620
- $0.76
-
12200 Ridgeback Drive Mckinney, TX 1
- 4 beds 4 baths ∙ 3,114 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,114 Sqft ∙ Built 2014
LEASED 03/03/20- Rent
- Rent Per SQFT
- $2,350
- $0.75
-
1900 Abbeygale Drive Mckinney, TX 2
- 4 beds 4 baths ∙ 3,255 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,255 Sqft ∙ Built 2013
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,490
- $0.76
-
12112 Abernathy Circle Mckinney, TX 3
- 5 beds 4 baths ∙ 3,588 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,588 Sqft ∙ Built 2013
LEASED 10/07/20- Rent
- Rent Per SQFT
- $2,550
- $0.71
-
12416 Buffalo Gap Drive Mckinney, TX 5
- 5 beds 4 baths ∙ 3,412 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,412 Sqft ∙ Built 2016
LEASED 06/10/20- Rent
- Rent Per SQFT
- $2,895
- $0.85
PROPERTY LISTING DETAILS
Exp Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14521087
Last Updated: 02/26/2021
