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2501 Buckskin Drive Mckinney, TX 75071

5 Beds 3 Baths 2,202 sqft Built 2000

$264,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $120.30
  • 5 Days on Market
  • MLS # : 14465334
  • Updated Date : 11/06/2020 at 12:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,202 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pioneer 1 Realty

Listing Agent's Description

Large and spacious home with many updates. Floor plan includes large living looking to large back yard (corner lot so very spacious). Also has a formal dining area as well as breakfast, a large open kitchen with plenty of cabinet and countertop space. This is a well flowing 5 bedroom home with 1 bedroom on the first floor and the others on the second floor. The downstairs bedroom could be used as a study so the floor is versatile. Updates include fresh paint throughout, new flooring in kitchen and breakfast area and much more. Don’t let this one pass you by. Foundation repairs completed by the seller, comes with 10 year transferable warranty, clear engineer's report in media.

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: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402171

* 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
Vega Elementary School Primary Regular 591 45 6
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Vega Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 45
6
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$977
Property Tax -$499
Property Insurance -$154
HOA -$10
Property Management Fees -$99
CASH FLOW
-$90

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.

$264,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,685

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6904$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2501 Buckskin Drive Mckinney, TX 2
    • 5 beds 3 baths ∙ 2,202 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,202 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 2707 Prairie Creek Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1999
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 2701 Baldwin Place Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2005
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 2207 Wisteria Way Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 2100 Oleander Way Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2000
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
PROPERTY LISTING DETAILS
Chato Castillo
Pioneer 1 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465334
Last Updated: 11/06/2020
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