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2808 Fawn Hollow Mckinney, TX 75072

4 Beds 3 Baths 2,747 sqft Built 1998

INVESTimate

$399,000

List Price

$2,180

$1,962 - $2,398

Rent Est.

$408,975  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $145.25
  • 5 Days on Market
  • MLS # : 14418421
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,747 sqft
  • Baths : 2 full , 1 half
Listing Agent

Matlock Real Estate Group

Listing Agent's Description

Located on a quiet cul-de-sac, this 1-story home has been nicely updated! Home newly painted, Kitchen renovation with new granite countertops, marble backsplash, new appliances, under lighting cabinets & cabinetry with pullouts. Great floorplan with split formal areas, Kitchen with Butler's Pantry with a built-in wine fridge & wine rack, family room with fireplace & private view of backyard. Study with French doors that is near primary suite that is nestled at back of home. The primary suite opens to primary bath with dual vanities, 2 closets, garden tub & sep. shower. Easy to maintain & private backyard. Community features 2 playground & trails. Very convenient to top rated Valley Creek elementary& Eldorado CC

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: Fawn Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Fawn Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262318

* 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,472
Property Tax -$751
Property Insurance -$186
HOA -$40
Property Management Fees -$99
CASH FLOW
-$369

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.

$399,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0753$2,0954$2,1805$2,600
$2,600
RENT COMPS ANALYSIS
  • 2808 Fawn Hollow Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.79
    •  
  • 2501 Pheasant Run Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 1998
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.71
    •  
  • 2955 Moss Creek Court Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1995
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.74
    •  
  • 3015 Chukar Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 1996
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
  • 2714 Rochelle Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 1991
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Nardeen Boxell
Matlock Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418421
Last Updated: 08/22/2020
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