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2107 Lilac Circle Mckinney, TX 75071

3 Beds 2 Baths 2,021 sqft Built 1999

$275,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $136.52
  • 4 Days on Market
  • MLS # : 14508416
  • Updated Date : 02/05/2021 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Welcome Home! well maintained, beautiful home w 3 bed, 2 bath, and large bonus room up. Master is down. Entering is a spacious living room w gas fireplace opening to the dining room and kitchen with granite countertops. Tile in wet areas. The Master bath features double sinks, granite countertops, garden tub and separate shower. Private backyard & wood covered patio area. Relax in the Hot Tub on the covered patio with a backyard perfect for summer barbecues with family. MULTIPLE OFFERS RECEIVED - HIGHEST & BEST DUE SUNDAY 2-7-2021 AT 6 PM. If over list include Appraisal Addendum, Lender letter required with all offers and POF with cash offers. Buyer and buyers agent to verify all information. See docs in MLS

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: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Neighborhood: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9432051

* 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
Vega Elementary School Primary Regular 591 45 6
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Vega Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 45
6
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$248,310$303,490$275,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$958
Property Tax -$520
Property Insurance -$144
HOA -$25
Property Management Fees -$99
CASH FLOW
$24

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.

$275,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$78,864

INVESTMENT

$78,864

Down Payment
$68,975
Rehab Estimate
$5,750
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$958

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$14,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7703$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2107 Lilac Circle Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.88
    •  
  • 2112 Oleander Way Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 2806 Hawthorne Lane Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1999
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 2002 Oleander Way Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 2004 Oleander Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Susan Ross
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508416
Last Updated: 02/05/2021
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