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3006 Deer Trail Mckinney, TX 75071

4 Beds 3 Baths 2,573 sqft Built 1985

INVESTimate

$319,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$341,202  ( +6.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $123.98
  • 5 Days on Market
  • MLS # : 14414976
  • Updated Date : 08/25/2020 at 14:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,573 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

STUNNING updated home in Mckinney. Home features multiple living spaces including: Dining room, office, 1st floor master suite, large living room with two story ceilings. Kitchen is equipped with stainless steel appliances, 5 burner gas stove and built in microwave. This home is situated on large oversized lot, in a cup de sac. Backyard has a covered patio and new wrought iron fence. Backyard backs to a creek and has the privacy and space for someone to build their dream backyard oasis. This home boasts natural light, high ceilings, gas fireplace and large master suite. Do not miss out on this opportunity to own a home in highly sought after location and school district. Please note: home is not vacant.

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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: Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10942171

* 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
Slaughter Elementary School Primary Regular 650 50 6
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Slaughter Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 50
6
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,719$2,101$1,910

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

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 $1,910
EXPENSES Loan Payment -$1,177
Property Tax -$601
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
-$143

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.

$319,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$1,9004$1,9105$1,925
$1,925
RENT COMPS ANALYSIS
  • 3006 Deer Trail Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.74
    •  
  • 2321 Emerald Lane Mckinney, TX 1
    • 5 beds 3 baths ∙ 2,442 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,442 Sqft ∙ Built 2005
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 2809 Meadowside Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 202 Devonshire Court Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1997
    property image
    LEASED 04/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 905 Austin Lane Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2002
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.74
    •  
PROPERTY LISTING DETAILS
Stacey Leslie
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414976
Last Updated: 08/25/2020
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