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2501 Triton Drive Mckinney, TX 75071

3 Beds 3 Baths 2,718 sqft Built 2018

$425,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $156.36
  • 3 Days on Market
  • MLS # : 14469602
  • Updated Date : 11/13/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Adorable 1.5 story home built by Taylor Morrison, located in a gated master-planned community of Auburn Hills, located in the highly sought after Prosper ISD! Open, light bright and airy floorplan is perfect for entertaining and daily living! Designer color scheme and finishes throughout! New elementary school currently under construction within walking distance and by park! Conveniently located near major highways, restaurants and retail stores! Don't miss all the community has to offer as well! A picturesque community lake, beautiful greenbelt with walking trails, pool, outdoor grill area, lawn area with shade arbor and so much more! This one is a must see!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

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

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,568
Property Tax -$800
Property Insurance -$184
HOA -$126
Property Management Fees -$99
CASH FLOW
-$418

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

$2,360

PROJECTED RENT

0.56%

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

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 70% 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

0.58

YEARS SAVED

$1,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0753$2,3004$2,3605$2,500
$2,500
RENT COMPS ANALYSIS
  • 2501 Triton Drive Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,718 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,718 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.87
    •  
  • 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
    •  
  • 5120 Sweetgum Court Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2005
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
  • 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
    •  
  • 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
Danielle Durbin
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469602
Last Updated: 11/13/2020
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