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1900 Van Landingham Drive Mckinney, TX 75071

4 Beds 4 Baths 3,266 sqft Built 2005

$515,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $157.69
  • 2 Days on Market
  • MLS # : 14521644
  • Updated Date : 02/27/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,266 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

This stunning two story home comes with all the alluring upgrades that makes this property a must-see. Located in Wren Creek in the one of a kind Stonebridge Ranch Community, with access to countless activities and amenities. This home features an open concept paired with vaulted ceilings, refreshing hardwood floors, and a stone fireplace which opens to the welcoming kitchen with granite counter tops, stainless steel appliances, and a spacious island. The Master Suite has room for an intimate sitting area, with spa like Master Bath. Located upstairs is media and game room with plenty of room for family and friend activities. The desirable backyard w low maintenance turf is peaceful and spacious for family fun.

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: Wren Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k387k

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

Neighborhood: Wren Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262580

* 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
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,789
Property Tax -$970
Property Insurance -$216
HOA -$70
Property Management Fees -$99
CASH FLOW
-$464

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.

$515,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,915

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6803$2,7504$2,9005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1900 Van Landingham Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,266 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,266 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.82
    •  
  • 901 Moss Cliff Circle Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2010
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.86
    •  
  • 2704 Inn Kitchen Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 2020
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.86
    •  
  • 6505 Canyon Crest Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,218 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,218 Sqft ∙ Built 2004
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
  • 901 Canyon Wren Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,463 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,463 Sqft ∙ Built 2003
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Cheryl Upvall
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521644
Last Updated: 02/27/2021
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