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2403 Saint Remy Drive Mckinney, TX 75070

4 Beds 3 Baths 3,204 sqft Built 1996

$395,950

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $123.58
  • 4 Days on Market
  • MLS # : 14521521
  • Updated Date : 03/05/2021 at 20:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,204 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

2-story light bright open floor plan with 4 beds including a master retreat with en suite separate vanities, jetted tub, separate shower, and walk-in closet, 2 bedrooms, one being used as a study, can be found on the first floor, living and dining room, eat-in kitchen, pantry, granite counters, some stainless steel appls, electric cooktop, island; family room with fireplace, engineered hardwoods in the main living areas and master, upstairs bedroom and bath, game-room, media room, covered patio, board on board fence, two-car garage. Multiple offers recieved, please send best and final Saturday 03.06.2021 by 10pm. Please include transfer of solar panels to buyer on contract, no lease back needed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Eldorado Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k459k

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

Neighborhood: Eldorado Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262969

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

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

Mckinney High School

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

$356,355$435,545$395,950

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,375
Property Tax -$746
Property Insurance -$212
Property Management Fees -$99
CASH FLOW
$8

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.

$395,950

PROJECTED PRICE

$2,440

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,677

INVESTMENT

$110,677

Down Payment
$98,988
Rehab Estimate
$5,750
Closing Costs
$5,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,988
Loan Amount $296,963
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,451

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,4004$2,4405$2,600
$2,600
RENT COMPS ANALYSIS
  • 2403 Saint Remy Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,204 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,204 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.76
    •  
  • 4436 Cordova Lane Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 1995
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 2909 Moss Creek Court Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1995
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 2735 Brookside Lane Mckinney, TX 3
    • 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
    •  
  • 2020 Fleming Drive Mckinney, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Rachael Hill
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521521
Last Updated: 03/05/2021
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