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2208 Killarney Drive Mckinney, TX 75072

3 Beds 2 Baths 1,890 sqft Built 1999

$305,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $161.38
  • 2 Days on Market
  • MLS # : 14518479
  • Updated Date : 02/13/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,890 sqft
  • Baths : 2 full
Listing Agent

Frontier Properties

Listing Agent's Description

RECENT UPDATES including some new flooring, painting, some cabinets replaced, backsplash and some re texturing. This home is located on the west side of Mckinney and is in close proximity to El Dorado pkwy, 75 and Sam Rayburn tollway making it easy to commute in any direction. Very sound and well kept home, used as rental in recent years. Buyer and buyer agent to verify all information within this listing

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
 

$274,500$335,500$305,000

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 -$1,059
Property Tax -$574
Property Insurance -$136
HOA -$67
Property Management Fees -$99
CASH FLOW
-$76

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.

$305,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.61%

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,258

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
  • $1,942

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8604$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 2208 Killarney Drive Mckinney, TX 3
    • 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
    •  
  • 2000 Aberdeen Avenue Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 6124 Berkshire Road Mckinney, TX 4
    • 3 beds 4 baths ∙ 1,890 Sqft ∙ Built 2000 3 beds 4 baths ∙ 1,890 Sqft ∙ Built 2000
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 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
William Medlock
Frontier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518479
Last Updated: 02/13/2021
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