Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2205 Aberdeen Avenue Mckinney, TX 75072

3 Beds 2 Baths 1,890 sqft Built 1999

$309,990

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $164.02
  • 3 Days on Market
  • MLS # : 14508241
  • Updated Date : 01/30/2021 at 09:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,890 sqft
  • Baths : 2 full
Listing Agent

Flip Your House, Inc

Listing Agent's Description

Stonebridge Community One Story - Here's Your Chance to own This 3 Bedroom, 2 Bath, 2 Car garage with Hard Surface Flooring throughout. Open Kitchen area with Granite Counter Tops, Island with a Breakfast Bar and extra Storage, Double Ovens. Stylish Barn Door separates Living areas for privacy. Private Master suite with a Huge walk-in Closet, separate shower and tub, Dual Sinks and Medicine Cabinet. Large backyard with open patio and Deck and Pergola. Walking distance to Market street plaza, elementary and middle schools. Stonebridge amenities offers pool club, beach and tennis club, trails and lakes. This home is Move-in ready.

SEE MORE

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: Willow Brook

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Willow Brook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10132171

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney Boyd High School

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

$278,991$340,989$309,990

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,077
Property Tax -$584
Property Insurance -$136
HOA -$67
Property Management Fees -$99
CASH FLOW
-$103

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.

$309,990

PROJECTED PRICE

$1,860

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,897

INVESTMENT

$87,897

Down Payment
$77,498
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,498
Loan Amount $232,493
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,325

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
  • $0.98

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7653$1,8504$1,8605$1,995
$1,995
RENT COMPS ANALYSIS
  • 2205 Aberdeen Avenue Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.98
    •  
  • 2216 Killarney Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1999
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 2300 Aberdeen Avenue Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.02
    •  
  • 2000 Aberdeen Avenue Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 2304 Tralee Circle Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.07
    •  
PROPERTY LISTING DETAILS
David Davis
Flip Your House, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508241
Last Updated: 01/30/2021
BESbswy