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1601 Willow Lane Mckinney, TX 75072

4 Beds 4 Baths 3,683 sqft Built 1996

$444,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $120.80
  • 3 Days on Market
  • MLS # : 14474746
  • Updated Date : 11/20/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,683 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

Beautiful former MODEL HOME. If you love to entertain and want a low maintenance bkyard, this is it! HUGE outdoor kitchen & living space complete with putting green. Watch your fav sport and practice your golf game while you fire up the grill. BEST OF ALL WORLDS! Use your weekends to relax & enjoy! Handsome study just off entry features nail-dwn wood flrs and lovely built-ins. Kitchen is beautifully updated and opens to the living rm. Quartz c'tops & stainless applnces. Master suite is downstrs boasting vaulted ceilings & plantation shutters. M-bath features XL walk-in shower. 2 full baths down+2 full baths up. 3 beds with game+media rms upstairs. Media screen & equip stay. Don't miss the HUGE walk-in attic.

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: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k421k

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

Neighborhood: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262494

* 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
 

$400,410$489,390$444,900

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,641
Property Tax -$838
Property Insurance -$240
HOA -$62
Property Management Fees -$99
CASH FLOW
-$340

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.

$444,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.57%

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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$123,649

INVESTMENT

$123,649

Down Payment
$111,225
Rehab Estimate
$5,750
Closing Costs
$6,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,641

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,225
Loan Amount $333,675
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,532

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,4504$2,5005$2,540
$2,540
RENT COMPS ANALYSIS
  • 1601 Willow Lane Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,683 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,683 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.69
    •  
  • 7104 Mornington Drive Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,418 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,418 Sqft ∙ Built 2003
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.70
    •  
  • 4906 Pecan Hill Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.69
    •  
  • 5917 Spring Hill Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,750 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,750 Sqft ∙ Built 1992
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.65
    •  
  • 6824 Ravenwood Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,498 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,498 Sqft ∙ Built 2002
    property image
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
PROPERTY LISTING DETAILS
Karis Jones
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474746
Last Updated: 11/20/2020
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