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3200 Candide Lane Mckinney, TX 75070

3 Beds 2 Baths 2,297 sqft Built 1993

$375,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $163.26
  • 2 Days on Market
  • MLS # : 14504899
  • Updated Date : 01/22/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

Welcome To Your New Home. Resting On A Beautiful, Oversized Creek Lot, Three Bedrooms, Two Baths, Two Car Garage with Extended Parking in the Rear and Two Flex or Formal Rooms. Spacious Kitchen with All New Appliances, Built-In Water Softener and Reverse Osmosis Purification System, Gas Range, Eat-in Nook and Tons of Cabinet and Counter Space! Kitchen, Open Floor-Plan, Perfect for Family Time and Entertaining. Creek Lot Gives Extra Privacy with an Incredible Yard and Extended Back Deck for Entertaining. Extra Large Private Side-Entry Driveway - NOT Alley Entry. Updated Paint and Flooring, New Windows and Blinds and Shutters. Great House in Wonderful Location. Don't Miss This Gem. Won't Last.

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: Vista of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Vista of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722171

* 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
Mcneil Elementary School Primary Regular 445 32 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcneil Elementary School

  • Education Level: Primary
  • # of students: 445
  • # of teachers: 32
6
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,303
Property Tax -$706
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$348

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

$1,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8505$1,920
$1,920
RENT COMPS ANALYSIS
  • 3200 Candide Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.84
    •  
  • 4207 Sarasota Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1991
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 4404 Cordova Lane Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1996
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 4212 Dolores Street Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3604 Mcclintick Road Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2004
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504899
Last Updated: 01/22/2021
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