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304 Longhorn Drive Mckinney, TX 75071

4 Beds 3 Baths 3,463 sqft Built 2012

$575,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $166.04
  • 4 Days on Market
  • MLS # : 14533992
  • Updated Date : 03/20/2021 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,463 sqft
  • Baths : 3 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

Pride of ownership SHINES in this stunning Highland home perfectly located on a private cul de sac! Gorgeous wood detail throughout with all the attention to detail with upgrades galore that make a house a HOME! Landscape perfection from front to back with glorious blooms just beginning to peek through. Located in the heart of Stonebridge in beautiful Saddlehorn Creek. It's a pure delight to tour this 4 bedroom, 3 bath home plus office. Master and one bedroom on level one. Two additional beds with gameroom on level 2. So many wonderful details to delight. Your backyard garden escape awaits! OFFER deadline is Sunday, March 21, 6 pm.

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: Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k419k

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

Neighborhood: Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262826

* 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
Mcclure Elementary School Primary Regular 629 40 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Mcclure Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 40
8
GreatSchools Rating

Cockrill Middle School

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

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,997
Property Tax -$1,083
Property Insurance -$227
HOA -$70
Property Management Fees -$99
CASH FLOW
-$736

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.

$575,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.8%
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-$15k-$10k-$5.0k$0.0

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$69

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,589

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,6004$2,6005$2,740
$2,740
RENT COMPS ANALYSIS
  • 304 Longhorn Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,463 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,463 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.79
    •  
  • 6800 Orchard Park Drive Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,564 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,564 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.70
    •  
  • 6600 Wind Song Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2006
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.74
    •  
  • 601 Excalibur Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,372 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,372 Sqft ∙ Built 2011
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
  • 5912 Waterford Lane Mckinney, TX 4
    • 4 beds 5 baths ∙ 3,354 Sqft ∙ Built 2010 4 beds 5 baths ∙ 3,354 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
David Kraft
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533992
Last Updated: 03/20/2021
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