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115 Falcon Creek Drive Mckinney, TX 75072

4 Beds 2 Baths 2,178 sqft Built 1995

$399,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $183.20
  • 3 Days on Market
  • MLS # : 14533705
  • Updated Date : 03/20/2021 at 17:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,178 sqft
  • Baths : 2 full
Listing Agent

Simply Texas Real Estate, Llc

Listing Agent's Description

Single Story POOL HOME In Stonebridge Ranch. Updated 4 bedroom 2 bath with office. Modern updates throughout. Tons of natural light, high ceilings, granite countertops, SS appliances, Private backyard oasis with pool and Jacuzzi. Walking distance from Eddins Elementary School and across the street from Falcon Creeks park and baseball field. This one is a must see and will move quickly.

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: Falcon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Falcon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Eddins Elementary School Primary Regular 469 31 8
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Eddins Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 31
8
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,386
Property Tax -$751
Property Insurance -$153
HOA -$65
Property Management Fees -$99
CASH FLOW
-$504

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9504$1,9755$2,050
$2,050
RENT COMPS ANALYSIS
  • 115 Falcon Creek Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 8809 Talon Court Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,078 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,078 Sqft ∙ Built 1996
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 8408 Kestrel Court Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 1995
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 113 Peregrine Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1994
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.88
    •  
  • 8804 Falcon View Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1998
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
PROPERTY LISTING DETAILS
Denise Milliken
Simply Texas Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533705
Last Updated: 03/20/2021
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