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2445 Chapel Oaks Drive Mckinney, TX 75071

4 Beds 4 Baths 3,442 sqft Built 2019

INVESTimate

$489,900

List Price

$2,280

$2,052 - $2,508

Rent Est.

$525,859  ( +7.34%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $142.33
  • 6 Days on Market
  • MLS # : 14418688
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,442 sqft
  • Baths : 3 full , 1 half
Listing Agent

Blvd Real Estate

Listing Agent's Description

A great place to call home for a large family. Beautiful home that is move in ready. Home has open floor plan with high ceilings, 4 bedrooms,3 full baths, one half bath, large upgraded kitchen, large laundry room, three car garage, office, game room with pool table, media room with 120 inch screen, projector and chairs, landscaped front and back yard and covered back porch. Home is convenient to shopping, restaurant and I 75. Seller is a Texas license real estate agent.

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: 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
Slaughter Elementary School Primary Regular 650 50 6
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

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 Boyd High School

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

$440,910$538,890$489,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,808
Property Tax -$923
Property Insurance -$226
HOA -$52
Property Management Fees -$99
CASH FLOW
-$827

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$489,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.34%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,824

INVESTMENT

$131,824

Down Payment
$122,475
Rehab Estimate
$2,000
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2003$2,2804$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 2445 Chapel Oaks Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.66
    •  
  • 3609 Truman Street Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2004
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.66
    •  
  • 3813 Edward Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,456 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,456 Sqft ∙ Built 2008
    property image
    LEASED 03/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
  • 2416 Shenfield Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,615 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,615 Sqft ∙ Built 2017
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.66
    •  
  • 2409 Shenfield Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,693 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,693 Sqft ∙ Built 2017
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.70
    •  
PROPERTY LISTING DETAILS
Terence Burnside
Blvd Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418688
Last Updated: 08/22/2020
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