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2404 Kentmere Lane Mckinney, TX 75072

4 Beds 3 Baths 3,054 sqft Built 2001

$419,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $137.49
  • 6 Days on Market
  • MLS # : 14468748
  • Updated Date : 11/11/2020 at 10:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

2017 Roof, 2015 13+ Seer AC unit, All Viking Appliances in kitchen-Refrigerator stays. Wood and tile flooring in all areas except bedrooms, 11-2020 carpet in bedrooms. Walk to School and Parks.. Media and Game Room up. Backyard Oasis pool with spa and waterfall feature. Outside built in grill and refrigerator. Extra grassy area for kid or pets. Awesome open floor plan with vaulted family room with crown molding and wall of windows overlooking backyard. Kitchen has Stainless Steel VIKING appliances and large Island. All secondary bedrooms are oversized. Stonebridge Ranch amenities include Golf, Clubhouse, Tennis, Community pool, jogging path, beachfront swimming area, etc. Just a great community to live in.

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: Stanford Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k383k

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

Neighborhood: Stanford Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262393

* 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
Bennett Elementary School Primary Regular 491 31 10
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Bennett Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 31
10
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney Boyd High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,549
Property Tax -$791
Property Insurance -$204
HOA -$65
Property Management Fees -$99
CASH FLOW
-$248

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.

$419,900

PROJECTED PRICE

$2,460

PROJECTED RENT

0.59%

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-$10k-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2504$2,2505$2,460
$2,460
RENT COMPS ANALYSIS
  • 2404 Kentmere Lane Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.81
    •  
  • 7325 Chadwick Drive Mckinney, TX 1
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 2001
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 1732 Nicklaus Court Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,959 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,959 Sqft ∙ Built 2004
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 8208 Rayburn Lane Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 8320 Olympia Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 2,979 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,979 Sqft ∙ Built 2005
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.76
    •  
PROPERTY LISTING DETAILS
Susan Ferguson
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 #: 14468748
Last Updated: 11/11/2020
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