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1800 Timber Edge Drive Mckinney, TX 75072

4 Beds 3 Baths 2,969 sqft Built 1997

$425,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $143.15
  • 3 Days on Market
  • MLS # : 14520972
  • Updated Date : 03/05/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,969 sqft
  • Baths : 3 full
Listing Agent

Classic Homes Realty Llc

Listing Agent's Description

ONE LOOK AND YOU WILL FALL IN LOVE!-Stonebridge Ranch-Spring Hill JUST REMODELED FOR YOU! The home was just painted top to bottom this month. The master bathroom and master closet are SHOWSTOPPERS with wood looking tile, seamless shower with river rock, freestanding tub & updated lighting + more. You will never run out of counter space or storage in this kitchen. No carpet upstairs. This home is zoned for award winning schools- Wolford Elementary, Evans Middle & McKinney Boyd High School. As a resident of Stonebridge Ranch you have access to all of the amenities-Multi-Million Dollar Beach Club, Jr Olympic pool, tennis courts, pickle ball courts, parks, playgrounds plus all of the activities at the club house.

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,476
Property Tax -$800
Property Insurance -$199
HOA -$70
Property Management Fees -$99
CASH FLOW
-$254

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.

$425,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.56%

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,375

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3903$2,3954$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1800 Timber Edge Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.80
    •  
  • 2648 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 5805 Pine Meadow Lane Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2002
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
  • 5600 Briar Ridge Circle Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 2653 Dunbar Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Becky Rensing
Classic Homes Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520972
Last Updated: 03/05/2021
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