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2330 Cuesta Lane Mckinney, TX 75072

3 Beds 2 Baths 1,084 sqft Built 1990

$230,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $212.18
  • 3 Days on Market
  • MLS # : 14496573
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,084 sqft
  • Baths : 2 full
Listing Agent

Amx Realty

Listing Agent's Description

Charming Mckinney 3 Bedroom 2 Bath Home with vaulted ceilings and Warm terracotta-toned tiles in living area extending into kitchen with sage cabinets and granite tiled countertops. Master bedroom offers seating ares Close to Central Expressway and 121, located near Al Ruschhaupt Park as well as shopping and grocery. Home would make a great Rental for an Investor or Empty Nester. Updates include Water Heater, HVAC Trane, Toilets, Windows, Gutters, Etc.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: North Brook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k344k

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

Neighborhood: North Brook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9162051

* 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
Slaughter Elementary School Primary Regular 650 50 6
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney High School High Regular 2,486 148 7

Slaughter Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 50
6
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$799
Property Tax -$433
Property Insurance -$90
Property Management Fees -$99
CASH FLOW
$9

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.

$230,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,344

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5003$1,5754$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2330 Cuesta Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.32
    •  
  • 616 Blue Ridge Street Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 624 Bandera Street Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1993
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.26
    •  
  • 2211 Brookview Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1996
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.25
    •  
  • 2425 Gabriel Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 2006
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.25
    •  
PROPERTY LISTING DETAILS
Diego Villarreal
Amx Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496573
Last Updated: 01/08/2021
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