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2309 Pearl Street Mckinney, TX 75071

4 Beds 4 Baths 2,727 sqft Built 2012

$560,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $205.35
  • 4 Days on Market
  • MLS # : 14521650
  • Updated Date : 02/28/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,727 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

Beautiful home in Charming Tucker Hill. Community is full of character w large front porches, gorgeous spring landscapes, fabulous amenities and a real sense of community with year round activities including concerts in the park, coffee on the porch, parades, cooking classes, lunch & learn, book club, etc. This elegant home is complete w hardwood floors, plantation shutters and warm colors. Kitchen features gas cooktop, microwave, granite counters w stone back splash, large island, custom lighting, ss appliances & custom cabinets. Yard features a relaxing patio, gorgeous spring thru fall gardens. Other upgrades include epoxy coated extended garage, two water heaters, Great location in Prosper School District!

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: Tucker Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k523k

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

Neighborhood: Tucker Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263214

* 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
John A. Baker Elementary School Primary Regular 698 53 8
Prosper High School High Regular 1,868 120 9
John A. Baker Elementary School Primary Unknown NA

John A. Baker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 53
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating

John A. Baker Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,945
Property Tax -$1,055
Property Insurance -$185
HOA -$133
Property Management Fees -$99
CASH FLOW
-$947

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.

$560,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$18k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,461

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,245
1$2,2452$2,4703$2,6004$2,7255$2,750
$2,750
RENT COMPS ANALYSIS
  • 2309 Pearl Street Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.91
    •  
  • 1404 Union Court Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.80
    •  
  • 1612 Country Walk Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2005
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 1309 Patriotic Lane Mckinney, TX 4
    • 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 2006
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.95
    •  
  • 7716 Harvest Hill Lane Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 2011
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Wayne Myers
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521650
Last Updated: 02/28/2021
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