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1204 Winter Haven Lane Mckinney, TX 75071

5 Beds 5 Baths 3,553 sqft Built 2005

$587,500

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $165.35
  • 2 Days on Market
  • MLS # : 14490165
  • Updated Date : 01/09/2021 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,553 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Amazing location for this beautifully built custom Darling home situated directly across from one of the La Cima Lakes in Stonebridge Ranch.Study with double French doors, Formal Dining, Master bedroom AND guest Bedroom both downstairs & split for privacy.Guest bedroom is laid out perfectly with it’s own dedicated entry to the 3 car tandem garage,perfect for multi-generational living.Island Kitchen features abundance in cabinetry & storage!Up is built in homework station – perfect for home schooling. 3 more guest bedrooms up along with oversized Gameroom! Don’t miss the 3 car oversized garage PERFECT for the hobbyist!Includes dust collection system, air compressor, central vac, extra lighting and insulated.

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: Lacima Haven Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Lacima Haven Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263410

* 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
Wilmeth Elementary School Primary Regular 635 40 9
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Wilmeth Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
9
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$528,750$646,250$587,500

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,041
Property Tax -$1,107
Property Insurance -$233
HOA -$70
Property Management Fees -$99
CASH FLOW
-$629

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.

$587,500

PROJECTED PRICE

$2,920

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$161,438

INVESTMENT

$161,438

Down Payment
$146,875
Rehab Estimate
$5,750
Closing Costs
$8,813

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,041

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,875
Loan Amount $440,625
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,878

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7503$2,9204$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1204 Winter Haven Lane Mckinney, TX 3
    • 5 beds 5 baths ∙ 3,553 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,553 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.82
    •  
  • 900 Hidden Springs Court Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
  • 8904 Brook Hollow Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 716 Cowan Lane Mckinney, TX 4
    • 5 beds 3 baths ∙ 3,651 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,651 Sqft ∙ Built 2011
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
  • 7900 Linksview Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jennifer Potter
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490165
Last Updated: 01/09/2021
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