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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $134.12
- 4 Days on Market
- MLS # : 14503337
- Updated Date : 01/22/2021 at 18:03
CONSTRUCTION
- Beds : 4
- Floor Size : 2,796 sqft
- Baths : 3 full , 1 half
Listing Agent
Keller Williams Realty
Listing Agent's Description
Updated 4 bed, 3.5 bath, two story situated on a gorgeous mature tree lined lot with space for everyone. Rich wood floors flow throughout the lower living areas. Formal dining and sitting rooms in the front of the house can be used as dual studies, while large open game room allows for virtual learning. Master on lower level offers beautiful views of the large backyard. Eat in kitchen features dual ovens, gas range, granite countertops, crisp white cabinets, and dry bar perfect for a coffee bar! Spacious family room boasts a gas fireplace with solid wood mantel. Located just minutes from restaurants, grocery stores, 24 hr fitness, movie theater, and retail on 380 and Hardin. Easy access to highway 75!
SEE MORE
- 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: Mayfair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mayfair
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,360 |
| EXPENSES | Loan Payment | -$1,303 |
| Property Tax | -$706 | |
| Property Insurance | -$189 | |
| HOA | -$33 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$30
|
||
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.
$375,000
PROJECTED PRICE
$2,360
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$105,125
LOAN DETAILS
$1,303
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $93,750 |
| Loan Amount | $281,250 |
4.83
YEARS SAVED
$18,785
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,360
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$2,076
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
2823 Mayfair Lane Mckinney, TX 5
- 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $2,360
- $0.84
-
2424 Emerald Lane Mckinney, TX 1
- 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 2006
LEASED 02/07/20- Rent
- Rent Per SQFT
- $1,895
- $0.73
-
2408 Emerald Lane Mckinney, TX 2
- 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006
LEASED 07/22/20- Rent
- Rent Per SQFT
- $1,995
- $0.73
-
2509 Glenhaven Drive Mckinney, TX 3
- 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2004
LEASED 09/27/20- Rent
- Rent Per SQFT
- $2,000
- $0.77
-
204 Devonshire Court Mckinney, TX 4
- 5 beds 3 baths ∙ 2,920 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,920 Sqft ∙ Built 1995
LEASED 01/06/21- Rent
- Rent Per SQFT
- $2,150
- $0.74
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14503337
Last Updated: 01/22/2021
