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2408 Triton Drive Mckinney, TX 75071

3 Beds 4 Baths 2,759 sqft Built 2018

$425,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $154.04
  • 4 Days on Market
  • MLS # : 14469818
  • Updated Date : 11/20/2020 at 05:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,759 sqft
  • Baths : 2 full , 2 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Immaculate 1.5 story home in gated section of Auburn Hills - highly acclaimed Prosper ISD schools! 3 bedrooms plus a study down & bonus room up. Kitchen features large island, 5 burner gas cooktop, custom 42 in white cabinets, stainless steel appliances & subway tile. Expansive hardwood floors, designer lighting, mud room & cast stone fireplace with gas logs. Private master suite with sitting area, luxurious bath including granite countertops, framed mirrors, separate tub, large shower & huge closet. Backyard has extended patio, trees, & plenty of room for a pool. Energy efficient radiant barrier & windows, tankless water heater & more. Convenient location plus 2 community pools, park, pond, & hike bike trails.

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

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

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

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,568
Property Tax -$800
Property Insurance -$187
HOA -$125
Property Management Fees -$99
CASH FLOW
-$579

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.

$425,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$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 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$63

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,2003$2,3004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2408 Triton Drive Mckinney, TX 2
    • 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 5241 Bear Valley Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2009
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 5701 Port Vale Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,787 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,787 Sqft ∙ Built 2018
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 3100 Crossridge Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,954 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,954 Sqft ∙ Built 2006
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 2625 Strand Lane Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 2019
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Trey Laquey
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469818
Last Updated: 11/20/2020
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