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2628 Valley Creek Trail Mckinney, TX 75072

3 Beds 3 Baths 2,269 sqft Built 1988

$385,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $169.68
  • 3 Days on Market
  • MLS # : 14535495
  • Updated Date : 03/20/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,269 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

OPEN HOUSE Sun 3-21 2-4PM. Fantastic location within walking distance of Valley Creek Elementary and backing to the golf course. This home has a gorgeous pool and huge trees in the back yard along with a covered patio that has bluetooth speakers so you can relax and enjoy the back yard. All carpet was just replaced and the entire house was just painted agreeable gray. The Master is on the first floor along with some nice living spaces. Most kitchen appliances have been updated while the vintage double ovens remain. Roof and gutters replaced in 2018, downstairs AC unit in 2016 with 11 years remaining on warranty, foundation repaired 2018 with transferrable lifetime warranty through Olshan

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: Sunset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Sunset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

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

$346,500$423,500$385,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,337
Property Tax -$725
Property Insurance -$158
HOA -$28
Property Management Fees -$99
CASH FLOW
-$297

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$385,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,9754$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2628 Valley Creek Trail Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,269 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,269 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 3002 Chukar Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 1996
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 3010 Teal Lane Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1999
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 3010 Quail Hollow Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1996
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.85
    •  
  • 2921 Meadow Glen Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 1995
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
PROPERTY LISTING DETAILS
Chris Fetrow
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535495
Last Updated: 03/20/2021
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