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2809 Hawthorne Lane Mckinney, TX 75071

3 Beds 2 Baths 2,021 sqft Built 1999

$275,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $136.07
  • 3 Days on Market
  • MLS # : 14532093
  • Updated Date : 03/12/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

The front glass door converts to a screen door . The living area has a gas log fireplace and built ins. The formal dining room features a window seat and is open to the kitchen. The large kitchen has a nice eat in area and extra storage. The microwave and dishwasher are about 18 months old. Walk out to the extended patio with electricity for a hot tub if wanted. The workshop features a work area, electricity and storage. Upstairs the spacious gameroom is large enough for a TV area and an office. The downstairs master bedroom has crown molding. The master bath features a garden tub, separate shower and two sinks. The secondary bedroom are split. The utility room has a closet and a bar for hanging clothes.

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: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Neighborhood: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9432051

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$955
Property Tax -$518
Property Insurance -$144
HOA -$50
Property Management Fees -$99
CASH FLOW
$4

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.

$275,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7703$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2809 Hawthorne Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.88
    •  
  • 2112 Oleander Way Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 2806 Hawthorne Lane Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1999
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 2002 Oleander Way Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 2004 Oleander Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Glenda Neel
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532093
Last Updated: 03/12/2021
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