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3201 Saint James Place Mckinney, TX 75070

3 Beds 2 Baths 1,614 sqft Built 2001

$275,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $170.38
  • 2 Days on Market
  • MLS # : 14533910
  • Updated Date : 03/20/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Mission Real Estate Group

Listing Agent's Description

Updated gem in cozy Boardwalk neighborhood. New HVAC system in 2018, new designer ceramic plank floors in 2020, new granite in kitchen and quartz in bathrooms 2020, new herring bone fireplace surround 2020, new lighting fixtures and fans in 2020-2021, new appliances in 2020-2021, patio extension added in 2019. Come get it while it lasts!

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: Boardwalk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Boardwalk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9682171

* 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
Edris Elliott Elementary School Primary Regular 536 33 6
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Edris Elliott Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
6
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$955
Property Tax -$518
Property Insurance -$120
HOA -$31
Property Management Fees -$99
CASH FLOW
-$94

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.

$275,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6954$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 3201 Saint James Place Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.01
    •  
  • 6408 Baltic Avenue Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2000
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6256 White Pine Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 2001
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 2905 Hudson Crossing Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2002
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 6620 Crator Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Travis Washmon
Mission Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533910
Last Updated: 03/20/2021
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