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2728 Prairie Creek Drive Mckinney, TX 75071

3 Beds 2 Baths 1,789 sqft Built 1999

$255,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $142.54
  • 3 Days on Market
  • MLS # : 14495752
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,789 sqft
  • Baths : 2 full
Listing Agent

The Ashton Agency

Listing Agent's Description

BEST AND FINAL OFFERS REQUESTED BY NOON ON SUNDAY, JANUARY 17,2021. Classic 3 bedroom, 2 bathroom, 2 car garage in popular High Pointe neighborhood in McKinney. Open concept floor plan flows from large kitchen area into family room. Kitchen features a breakfast bar, island, dining area, & large walk-in pantry. Large main bedroom with walk in closet, and two other good sized bedrooms. Newly painted inside and new toilets installed. Great central location in close proximity to schools, and less than a mile from both highways 380 & 75, community college, shopping centers, & restaurants. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402171

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$886
Property Tax -$480
Property Insurance -$131
HOA -$18
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 15% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$18,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5803$1,5954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 2728 Prairie Creek Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 2725 Prairie Creek Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 2829 Bluffs Court Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.99
    •  
  • 2612 Caprock Road Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 2609 Hidden Valley Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1999
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
PROPERTY LISTING DETAILS
Eric Miscoll
The Ashton Agency
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495752
Last Updated: 01/16/2021
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