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

2719 Summerwood Court Mckinney, TX 75072

4 Beds 3 Baths 2,865 sqft Built 1992

$437,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $152.84
  • 4 Days on Market
  • MLS # : 14507609
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Backyard Paradise! Pool with oversized level backyard will provide the fun and privacy you've been looking for! Gorgeous back of the cul-de-sac home with lots of updates. New HVAC systems in 2019 make the home a cool, comfortable oasis. Remodeled master bathroom, walk-in dual showers and a beautiful dual vanity. Remodeled kitchen, granite counters, breakfast bar, 5-burner gas cooktop, and stainless appliances. New dishwasher and convection oven added in 2020. Hardwood floors, recent paint, updated carpet in bedrooms. New roof in 2017. In 2019 new front door, painted doors and trim, updated sprinkler system, and french drain to maintain the rich landscaping. Furnishings negotiable. See attached list of updates

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: North Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k355k

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

Neighborhood: North Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$394,110$481,690$437,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,521
Property Tax -$825
Property Insurance -$193
HOA -$28
Property Management Fees -$99
CASH FLOW
-$335

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.

$437,900

PROJECTED PRICE

$2,330

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$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,794

INVESTMENT

$121,794

Down Payment
$109,475
Rehab Estimate
$5,750
Closing Costs
$6,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,475
Loan Amount $328,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,356

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,3304$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 2719 Summerwood Court Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.81
    •  
  • 2937 Sunset Ridge Mckinney, TX 1
    • 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
    •  
  • 2715 Sunny Meadows Court Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1994
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 2523 Lakeside Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 1999
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 2649 Fairway Ridge Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1992
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Harlow Hagee
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507609
Last Updated: 01/31/2021
BESbswy