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1209 Stoneoak Drive Mckinney, TX 75072

3 Beds 3 Baths 2,970 sqft Built 2004

INVESTimate

$599,000

List Price

$3,140

$2,890 - $3,390

Rent Est.

$613,975  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $201.68
  • 6 Days on Market
  • MLS # : 14409712
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,970 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

This is the home you have been waiting for... original owners handpicked this lot with massive golf & water views in two directions overlooking the #26 green at The Hills Course in Stonebridge Ranch... & all on one level! Oversized picture windows with wooden shutters outline the entire home & wrap around patio.  Everything you expect including granite surfaces, gleaming hardwoods, stainless appliances, recently replaced carpet, 2018 roof, & more! All rooms are generously sized and will easily accommodate large furniture & there is so much natural light you may opt to leave the lights off by day. Click the link to watch the video walk through & aerial tour of the views surrounding the home. Hurry!

SEE MORE

MARKET HIGHLIGHTS

  • . 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: Tanglewood at Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $123k683k

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

Neighborhood: Tanglewood at Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $11264350

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney Boyd High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,210
Property Tax -$1,128
Property Insurance -$199
HOA -$67
Property Management Fees -$99
CASH FLOW
-$563

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.

$599,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,6004$2,8005$3,140
$3,140
RENT COMPS ANALYSIS
  • 1209 Stoneoak Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,970 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,970 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.06
    •  
  • 2633 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 414 Treeline Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 1996
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 813 Autumn Ridge Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 1993
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.91
    •  
  • 6717 Stony Hill Road Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
David Heape
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409712
Last Updated: 08/22/2020
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