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2201 Amherst Circle Mckinney, TX 75072

5 Beds 5 Baths 4,500 sqft Built 1996

$675,000

List Price

$3,530

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $150.00
  • 1 Days on Market
  • MLS # : 14504618
  • Updated Date : 01/23/2021 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,500 sqft
  • Baths : 5 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

Character abounds in this charming Victorian style custom home located in exclusive Forest Ridge! Close to Eldorado CC, golf course & exempl Valley Creek Elem. Feel like you've stepped back in time while relaxing on the wrap around porch surrounded by mature lush trees & landscape. Over $90k in updates; new hand scraped hardwood floors, stone fireplaces incl cozy dual sized fp in lrg master, plantation shutters, new granite, subway tile, Blanco sink. Freshly painted throughout, modern farmhouse lighting, new carpeting, staircase remodel; beautifully appointed home! Backyard paradise features built in fire pit area w seating, flagstone patio, sparkling pool&spa. New:pool heater, motor, 2 gas water heaters, roof.

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: Forest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k606k

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

Neighborhood: Forest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263692

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

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

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$2,345
Property Tax -$1,271
Property Insurance -$287
HOA -$38
Property Management Fees -$99
CASH FLOW
-$509

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.

$675,000

PROJECTED PRICE

$3,530

PROJECTED RENT

0.52%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,530

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,713

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,5303$4,500
$4,500
RENT COMPS ANALYSIS
  • 2201 Amherst Circle Mckinney, TX 2
    • 5 beds 5 baths ∙ 4,500 Sqft ∙ Built 1996 5 beds 5 baths ∙ 4,500 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $0.78
    •  
  • 4033 Oxbow Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 4,278 Sqft ∙ Built 2012 4 beds 4 baths ∙ 4,278 Sqft ∙ Built 2012
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.68
    •  
  • 2300 Trenton Mckinney, TX 3
    • 4 beds 5 baths ∙ 4,625 Sqft ∙ Built 2006 4 beds 5 baths ∙ 4,625 Sqft ∙ Built 2006
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Amy Martin
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504618
Last Updated: 01/23/2021
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