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2001 Lawnview Drive Mckinney, TX 75072

4 Beds 3 Baths 3,262 sqft Built 2003

$369,990

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $113.42
  • 2 Days on Market
  • MLS # : 14536720
  • Updated Date : 03/20/2021 at 11:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tiven Realty

Listing Agent's Description

Beautiful 4 bedroom, 2.1 bathroom house. It has new appliances, freshly painted walls, and new carpet on second floor. Master bedroom is on first floor and has newly renovated shower. Secondary bedrooms and huge game room are on second floor. Washer and dryer will convey with property.

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: Hillside at Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k379k

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

Neighborhood: Hillside at Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262306

* 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
Walker Elementary School Primary Regular 572 34 9
Faubion Middle School Middle Regular 976 64 7
Mckinney Boyd High School High Regular 2,881 169 8

Walker Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 34
9
GreatSchools Rating

Faubion Middle School

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

Mckinney Boyd High School

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

$332,991$406,989$369,990

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,285
Property Tax -$697
Property Insurance -$216
HOA -$41
Property Management Fees -$99
CASH FLOW
-$97

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.

$369,990

PROJECTED PRICE

$2,240

PROJECTED RENT

0.61%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,797

INVESTMENT

$103,797

Down Payment
$92,498
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,498
Loan Amount $277,493
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,471

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2403$2,4004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2001 Lawnview Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,262 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,262 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.69
    •  
  • 1917 Lawnview Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,918 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,918 Sqft ∙ Built 2006
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 2735 Brookside Lane Mckinney, TX 3
    • 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
    •  
  • 2020 Fleming Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
  • 3817 Landsdowne Drive Mckinney, TX 5
    • 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Tiwa Ehiametalor
Tiven Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536720
Last Updated: 03/20/2021
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