Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3205 Matisse Lane Mckinney, TX 75070

3 Beds 4 Baths 2,364 sqft Built 2021

$448,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $189.51
  • 8 Days on Market
  • MLS # : 14514463
  • Updated Date : 02/08/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,364 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

A Build-Able Floor Plan-Provence Luxury Homes offer luxurious living that you deserve, at an affordable price. Our Frisco ISD patio home community offers high end finishes & maintenance free side yard & generous private patio as standard. Towering 10 ft ceilings & top quality build materials including designer hardwood floors, Bosch built-in appliances, designer countertops, extensive crown molding, premium carpet, oversized 2 car garage, gas fireplace, tall 7 in baseboards! Master suites include luxurious spa like baths, walk in shower, vast WIC wardrobe, his & her vanities.

SEE MORE

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: 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
Joyce Kelly Comstock Elementary School Primary Unknown NA
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Joyce Kelly Comstock Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$403,200$492,800$448,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,556
Property Tax -$844
Property Insurance -$164
HOA -$150
Property Management Fees -$99
CASH FLOW
-$733

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$448,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.46%

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) 3.00%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$120,720

INVESTMENT

$120,720

Down Payment
$112,000
Rehab Estimate
$2,000
Closing Costs
$6,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,000
Loan Amount $336,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$9

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,086

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0804$2,1005$2,400
$2,400
RENT COMPS ANALYSIS
  • 3205 Matisse Lane Mckinney, TX 3
    • 3 beds 4 baths ∙ 2,364 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,364 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.88
    •  
  • 8501 Laughing Waters Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 7708 Rancho De La Osa Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 2804 Lynnwood Lane Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 3401 Beaver Creek Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,524 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,524 Sqft ∙ Built 2007
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Marilyn Iness
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514463
Last Updated: 02/08/2021
BESbswy