Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2713 Grand Canyon Court Mckinney, TX 75072

3 Beds 2 Baths 1,638 sqft Built 2000

$264,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $161.48
  • 5 Days on Market
  • MLS # : 14479666
  • Updated Date : 12/02/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Smartpointe Real Estate, Inc

Listing Agent's Description

Come see this beautiful, open floorplan in Stonebridge Ranch! 3bed, 2 bath with open living, kitchen and dining space. New roof in 2017, new flooring throughout in 2018 and brand new HVAC 2018 (16SEER Trane) This home is also equipped with a Ring smart doorbell, flood light, Nest thermostat and WIFI Garage door opener. Freshly painted and ready to sell!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Stone Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Stone Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10782171

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

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

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$238,050$290,950$264,500

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$976
Property Tax -$498
Property Insurance -$122
HOA -$62
Property Management Fees -$99
CASH FLOW
-$87

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.

$264,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,843

INVESTMENT

$75,843

Down Payment
$66,125
Rehab Estimate
$5,750
Closing Costs
$3,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$976

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,125
Loan Amount $198,375
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7653$1,7954$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2713 Grand Canyon Court Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.02
    •  
  • 2300 Aberdeen Avenue Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2000
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.02
    •  
  • 2900 Drake Court Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 2700 Cypress Point Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2000
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 2705 Grand Canyon Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2001
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jeff Martin
Smartpointe Real Estate, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479666
Last Updated: 12/02/2020
BESbswy