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3024 Dustywood Drive Mckinney, TX 75071

5 Beds 4 Baths 3,400 sqft Built 2017

$459,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $135.26
  • 5 Days on Market
  • MLS # : 14530182
  • Updated Date : 03/10/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,400 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exit Keys, Llc

Listing Agent's Description

BEAUTIFUL, well maintained 5 bed.3.1 bath. DREES Built home. Beautiful Hardwood floors throughout most of lower level and 10 Foot Ceilings, carpet in bedrooms. Primary Bedroom plus Study on main level. Spacious kitchen with large island overlooks Family room with gas fire place. Spacious Breakfast Area. Large Game Room plus Media Room upstairs with walk-in linen closet. Two of the upstairs bedrooms feature a Jack and Jill bathroom. Plenty of storage space. Enjoy the beautiful lifestyle of Timber Creek, with walking trails, pool and playground! You don't want to miss this one!!

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
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
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,597
Property Tax -$866
Property Insurance -$221
HOA -$42
Property Management Fees -$99
CASH FLOW
-$455

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.

$459,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,597

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1903$2,1954$2,2005$2,370
$2,370
RENT COMPS ANALYSIS
  • 3024 Dustywood Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,351 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,351 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.71
    •  
  • 3413 Timber Ridge Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,273 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,273 Sqft ∙ Built 2006
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.63
    •  
  • 3505 Quail View Drive Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2002
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.64
    •  
  • 3517 Quail View Drive Mckinney, TX 3
    • 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2002
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.64
    •  
  • 2540 Brinlee Branch Lane Mckinney, TX 4
    • 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,443 Sqft ∙ Built 2001
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
PROPERTY LISTING DETAILS
Christine Butt
Exit Keys, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530182
Last Updated: 03/10/2021
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