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2512 Douglas Drive Mckinney, TX 75071

3 Beds 2 Baths 1,226 sqft Built 2003

$199,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $163.05
  • 4 Days on Market
  • MLS # : 14466222
  • Updated Date : 11/06/2020 at 12:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,226 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Cute home with fresh paint, new carpet, new tile. The family room has a fireplace and overlooks the back yard with a nice storage building for garage overflow. The master suite features walk in closet, dual sinks, large tub shower. The secondary bedroom are split for privacy. The kitchen has a breakfast bar and is open to the family room. Close to shopping and 75! ****Multiple Offers Received - Highest & Best by Sunday @2! SDN in transaction desk.

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
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$738
Property Tax -$376
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
$59

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.

$199,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.69%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$16,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,5003$1,5954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 2512 Douglas Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.12
    •  
  • 2821 Cliffview Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2003
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 2620 Caprock Road Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1999
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 2211 Lilac Circle Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1999
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
  • 2701 Prescotte Pointe Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 2007
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
PROPERTY LISTING DETAILS
Tina Crisp
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466222
Last Updated: 11/06/2020
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