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1120 Pennybaker Lane Mckinney, TX 75071

3 Beds 2 Baths 1,844 sqft Built 2014

$317,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $172.40
  • 3 Days on Market
  • MLS # : 14486467
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Kanam Realty Group

Listing Agent's Description

Dream house in highly sought after Prosper ISD. This gorgeous home offers 3bedrooms, 2bath, study with french doors. Kitchen includes refinished cabinets, granite countertops, new SS appliances including new refrigerator. Open floor plan with kitchen and dining area overlooking the formal living room plus fireplace. Master bedroom offers a large walk-in closet and master bath with dual sinks, beautiful garden tub and separate shower. New carpet and fresh coat of paint throughout the house. Nice size backyard perfect for entertaining. Walking distance to neighborhood elementary and new Rockhill High School. Amenities include community pool, park and walking trails.Close proximity to dining, shopping and HWY-380

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$286,110$349,690$317,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,173
Property Tax -$599
Property Insurance -$134
HOA -$50
Property Management Fees -$99
CASH FLOW
$16

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.

$317,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,994

INVESTMENT

$89,994

Down Payment
$79,475
Rehab Estimate
$5,750
Closing Costs
$4,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,475
Loan Amount $238,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$19,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,913

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1120 Pennybaker Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.12
    •  
  • 11513 Whitworth Way Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
  • 1605 Jace Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 11805 Bertram Road Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 10816 Brownwood Place Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2019
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ajaykumar Sharma
Kanam Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486467
Last Updated: 12/18/2020
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