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1405 Timberline Drive Mckinney, TX 75072

4 Beds 3 Baths 3,106 sqft Built 2000

$349,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $112.65
  • 4 Days on Market
  • MLS # : 14464385
  • Updated Date : 11/07/2020 at 13:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,106 sqft
  • Baths : 3 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

**Accepting offers until 9am on Monday November 9**Brand new carpet throughout this 4BR, 3BA home located on a quiet street in a gated McKinney neighborhood! Dedicated main floor home office, formal dining room, cozy living room with gas fireplace. Main floor master suite plus additional bedroom and bath. Upstairs features terrific game room and two spacious bedrooms connected by Jack-and-Jill bath. Large backyard with plenty of room for gardening, pets and play. Awesome location near I75 and SH121 for easy commutes. This home is sold AS-IS; no repairs will be made.

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: Stonegate

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k386k

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

Neighborhood: Stonegate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262456

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,291
Property Tax -$659
Property Insurance -$207
HOA -$83
Property Management Fees -$99
CASH FLOW
$61

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.

$349,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.69%

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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$14,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4003$2,4004$2,5005$2,790
$2,790
RENT COMPS ANALYSIS
  • 1405 Timberline Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 2715 Sunny Meadows Court Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1994
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 2735 Brookside Lane Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,199 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,199 Sqft ∙ Built 1990
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
  • 1413 Westmont Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,065 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,065 Sqft ∙ Built 1998
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 2717 White Rock Creek Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 2013
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.86
    •  
PROPERTY LISTING DETAILS
Hannah Gigley
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464385
Last Updated: 11/07/2020
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