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11909 Smithton Avenue Mckinney, TX 75071

6 Beds 4 Baths 3,923 sqft Built 2016

$525,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $133.83
  • 4 Days on Market
  • MLS # : 14530226
  • Updated Date : 03/13/2021 at 16:17
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,923 sqft
  • Baths : 3 full , 1 half
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. OFFER DEADLINE SAT 3-13 AT 8PM. PROSPER ISD on one of the largest lots in Prestwyck. .36 Ac Creek Lot features 6 Beds, 3.1 Ba, Media, Game-Flex Room, 2 Car Gar. Luxurious Entry with wood floors opens to the gorgeous formal living and dining room. Downstairs study can be your 6th bedroom or the perfect workout room! The 2-story Family Room displays a gorgeous stone fireplace and a wall of windows overlooking the most amazing backyard. Gourmet Kitchen without eat-in bar, nook overlooking the covered patio, SS Appl's, Granite Counters & coffee bar! Pool-Sized Backyard with panoramic views of the creek!

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: 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
Judy Rucker Elementary School Primary Regular 781 47 8
Hays Middle School Middle Unknown NA
Prosper High School High Regular 1,868 120 9

Judy Rucker Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 47
8
GreatSchools Rating

Hays Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Prosper High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$1,824
Property Tax -$989
Property Insurance -$254
HOA -$48
Property Management Fees -$99
CASH FLOW
-$153

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.

$525,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.58%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$12,954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,060

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,8003$2,9004$3,0605$3,400
$3,400
RENT COMPS ANALYSIS
  • 11909 Smithton Avenue Mckinney, TX 4
    • 6 beds 4 baths ∙ 3,923 Sqft ∙ Built 2016 6 beds 4 baths ∙ 3,923 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $0.78
    •  
  • 12112 Abernathy Circle Mckinney, TX 1
    • 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
    •  
  • 1500 Taylor Lane Mckinney, TX 2
    • 6 beds 4 baths ∙ 3,595 Sqft ∙ Built 2014 6 beds 4 baths ∙ 3,595 Sqft ∙ Built 2014
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
  • 11909 Presario Road Mckinney, TX 3
    • 6 beds 4 baths ∙ 3,867 Sqft ∙ Built 2013 6 beds 4 baths ∙ 3,867 Sqft ∙ Built 2013
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.75
    •  
  • 11924 Presario Road Mckinney, TX 5
    • 6 beds 4 baths ∙ 3,882 Sqft ∙ Built 2013 6 beds 4 baths ∙ 3,882 Sqft ∙ Built 2013
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Stephanie Funk
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530226
Last Updated: 03/13/2021
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