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210 Appalachian Way Mckinney, TX 75071

5 Beds 3 Baths 2,938 sqft Built 1997

$419,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $142.92
  • 3 Days on Market
  • MLS # : 14495778
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,938 sqft
  • Baths : 3 full
Listing Agent

Monument Realty

Listing Agent's Description

Don't miss this beautiful .60 acre lot in the heart of McKinney & close to EVERYTHING! This fantastic floor plan has five large bedrooms with one of the secondary bedrooms large enough to be a game or media room, two downstairs living areas, downstairs bedroom could be used as a study, large walk in pantry, huge master closet, crown moldings, tall ceilings & curved staircase in entry. Back living area has a beautiful gas fireplace & wall of windows looking out to the incredible backyard. Kitchen & breakfast area are open to the living room and have great outdoor views as well. This home is within walking distance to Mckinney Boyd HS & close proximity to Hwy 75, Custer, Preston, DNT, 380, shopping & restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Virginia Woods

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k412k

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

Neighborhood: Virginia Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262747

* 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
Minshew Elementary School Primary Regular 656 41 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Minshew Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,458
Property Tax -$791
Property Insurance -$197
HOA -$56
Property Management Fees -$99
CASH FLOW
-$142

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.

$419,900

PROJECTED PRICE

$2,460

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,417

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4003$2,4604$2,4955$2,599
$2,599
RENT COMPS ANALYSIS
  • 210 Appalachian Way Mckinney, TX 3
    • 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.84
    •  
  • 701 Cresthaven Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 2000
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 100 Bellegrove Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 509 Oak Point Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2013
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.84
    •  
  • 509 James Herndon Trail Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,038 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,038 Sqft ∙ Built 2013
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jamie Boswell
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495778
Last Updated: 01/08/2021
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