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2744 Brookside Lane Mckinney, TX 75072

5 Beds 4 Baths 3,931 sqft Built 1991

$564,900

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $143.70
  • 5 Days on Market
  • MLS # : 14464086
  • Updated Date : 11/20/2020 at 11:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,931 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors Mck

Listing Agent's Description

Panoramic fairway views of Hole 6 at prestigious Eldorado Country Club, situated on a premier cul de sac treed lot with plenty of room to add a future pool. Sellers added a cheery, enclosed solarium-sunroom for year-round enjoyment! Interior features: Gorgeous hardwood floors from the foyer, thru the extra large formal living & dining rooms, the family room & owners suite; 5 big bdrms with great closets; Family room has a soaring ceiling, gas log FP & wet bar; Plantation shutters; GE Profile appliances, butler pantry + granite counters in kitchen & downstairs baths; Upper gameroom; Brand new carpet upstairs. Lots of windows offer so much natural light! Oversized garages have workbench + covered back patio too.

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 Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k454k

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

Neighborhood: Sunset Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262371

* 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
 

$508,410$621,390$564,900

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,084
Property Tax -$1,064
Property Insurance -$254
HOA -$29
Property Management Fees -$99
CASH FLOW
-$741

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.

$564,900

PROJECTED PRICE

$2,790

PROJECTED RENT

0.49%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,449

INVESTMENT

$155,449

Down Payment
$141,225
Rehab Estimate
$5,750
Closing Costs
$8,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,225
Loan Amount $423,675
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$32

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,762

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7503$2,7904$2,8005$2,895
$2,895
RENT COMPS ANALYSIS
  • 2744 Brookside Lane Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.71
    •  
  • 2308 Therrell Way Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 2003
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.66
    •  
  • 1720 Waterside Drive Mckinney, TX 2
    • 5 beds 5 baths ∙ 4,001 Sqft ∙ Built 1998 5 beds 5 baths ∙ 4,001 Sqft ∙ Built 1998
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.69
    •  
  • 2312 Therrell Way Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,947 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,947 Sqft ∙ Built 2001
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.71
    •  
  • 2800 Woodstream Lane Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,873 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,873 Sqft ∙ Built 1997
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.75
    •  
PROPERTY LISTING DETAILS
Katherine Niesman
Ebby Halliday, Realtors Mck
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464086
Last Updated: 11/20/2020
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