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2501 Cheverny Drive Mckinney, TX 75070

4 Beds 3 Baths 2,666 sqft Built 1995

$320,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $120.03
  • 2 Days on Market
  • MLS # : 14475121
  • Updated Date : 11/28/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,666 sqft
  • Baths : 3 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Great single story house located in Vista of Eldorado (NO HOA). Amazing floorplan includes a formal dining room off the entrance and a separate office. Plentiful cabinets and counterspace in a kitchen that flows to a large breakfast area and over looks the main living room. Beautiful brick fireplace flanked by large built in bookcases and cabinets. At the back of the house you will find the master suite with its own entrance to the covered patio and spacious backyard. Two front secondary bedrooms share a Jack and Jill bath. Lots of windows throughout for great natural light and the pass through utility room is large enough for full size washer, dryer, refrigerator and sink.

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: Vista of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Vista of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722171

* 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
Mcneil Elementary School Primary Regular 445 32 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcneil Elementary School

  • Education Level: Primary
  • # of students: 445
  • # of teachers: 32
6
GreatSchools Rating

Evans Middle School

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

Mckinney High School

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

$288,000$352,000$320,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,181
Property Tax -$603
Property Insurance -$181
Property Management Fees -$99
CASH FLOW
$6

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.

$320,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$18,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0703$2,0754$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2501 Cheverny Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.78
    •  
  • 3012 Partridge Lane Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 1996
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 2955 Moss Creek Court Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1995
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.74
    •  
  • 2937 Sunset Ridge Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 1996
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 2812 Aspen Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1996
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mike Lewis
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475121
Last Updated: 11/28/2020
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