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204 Rugby Lane Mckinney, TX 75072

4 Beds 2 Baths 1,609 sqft Built 2015

INVESTimate

$288,000

List Price

$1,860

$1,674 - $2,046

Rent Est.

$295,200  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $178.99
  • 3 Days on Market
  • MLS # : 14417299
  • Updated Date : 08/25/2020 at 10:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Stunning 4 bedroom brick and stone home with optional study and split bedrooms. Large living area features a fireplace, manufactured wood floors is open to the kitchen with extensive cabinets, granite countertops, bar, pantry, ss sink and appliances, and gas cooktop. The owner's retreat is split and features garden tub, sep shower, 2 sinks, and walk in closet. Walk out back thru screened door to covered patio with roll down screen. Patio has been extended, landscaped yard with steel posts wood fence. Drip irrigation for trees, plants, and flowerbeds. Landscape lighting. Roof is 1 year old. High efficiency HVAC and hot water heater. Water softener remains. Garage floor is coated with epoxy shield. Shelving

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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: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262413

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$259,200$316,800$288,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,063
Property Tax -$542
Property Insurance -$120
HOA -$58
Property Management Fees -$99
CASH FLOW
-$23

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.

$288,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,070

INVESTMENT

$82,070

Down Payment
$72,000
Rehab Estimate
$5,750
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,063

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8603$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 204 Rugby Lane Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.16
    •  
  • 201 Noel Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2015
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 10329 Pear Valley Road Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.18
    •  
  • 201 Mount Olive Avenue Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2016
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.18
    •  
  • 213 Whitman Drive Mckinney, TX 5
    • 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 2015
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
PROPERTY LISTING DETAILS
Glenda Neel
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417299
Last Updated: 08/25/2020
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