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2313 Therrell Way Mckinney, TX 75072

5 Beds 4 Baths 3,263 sqft Built 2001

$425,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $130.25
  • 3 Days on Market
  • MLS # : 14513676
  • Updated Date : 02/13/2021 at 10:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,263 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Allen-fairview

Listing Agent's Description

Multiple Offers! Please submit Best & Final by 5 PM Sunday 2.14. Smart & strong offers encouraged! Show us you are in it to WIN it! Home is occupied - Owners prefer a leaseback. Please note in offers if the buyer is flexible on possession. Highland home in immaculate condition @ Hidden Creek in McKinney! Beautiful downstairs primary bath remodel recently completed. 4 bedrooms, 2 baths & an oversized Gameroom upstairs! The spacious backyard is plenty large enough to add a pool if so desired.

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: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262335

* 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
Walker Elementary School Primary Regular 572 34 9
Faubion Middle School Middle Regular 976 64 7
Mckinney Boyd High School High Regular 2,881 169 8

Walker Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 34
9
GreatSchools Rating

Faubion Middle School

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

Mckinney Boyd High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,476
Property Tax -$800
Property Insurance -$216
HOA -$50
Property Management Fees -$99
CASH FLOW
-$61

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.

$425,000

PROJECTED PRICE

$2,580

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,545

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5804$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2313 Therrell Way Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,263 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,263 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.79
    •  
  • 2735 Brookside Lane Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,199 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,199 Sqft ∙ Built 1990
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
  • 2408 Pharr Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 2020 Fleming Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
  • 3817 Landsdowne Drive Mckinney, TX 5
    • 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Leah Goldstein
Ebby Halliday, Allen-fairview
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513676
Last Updated: 02/13/2021
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