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2229 Kingsdale Court Mckinney, TX 75071

4 Beds 3 Baths 2,189 sqft Built 2004

INVESTimate

$439,900

List Price

$1,770

$1,593 - $1,947

Rent Est.

$470,517  ( +6.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $200.96
  • 6 Days on Market
  • MLS # : 14418516
  • Updated Date : 08/22/2020 at 11:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,189 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

RENOVATED and UPDATED gorgeous home in desirable McKinney. There are wood floors throughout the home upstairs and downstairs. Energy efficient windows with tint. Marble countertops throughout all areas. Updated light fixtures. Kitchen has custom stained mahogany wood cabinets, stainless steel appliances and a great island along with a breakfast area. Media or Gameroom upstairs for a second living space for the family. HUGE backyard that is ready for a pool. Home is on a cul de sac. This home is MOVE IN READY. Shows like a new build home.

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: Summit Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Summit Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9942171

* 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
 

$395,910$483,890$439,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,623
Property Tax -$726
Property Insurance -$154
HOA -$33
Property Management Fees -$99
CASH FLOW
-$865

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.

$439,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$16

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
  • $0.81

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7003$1,7704$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 2229 Kingsdale Court Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.81
    •  
  • 2701 Baldwin Place Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2005
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 2920 Frontier Lane Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 2213 Kingsdale Court Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2005
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 2925 Frontier Lane Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2002
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Christian Wallace
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418516
Last Updated: 08/22/2020
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