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3205 Sarala Court Mckinney, TX 75069

4 Beds 4 Baths 3,071 sqft Built 2021

$441,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $143.60
  • 7 Days on Market
  • MLS # : 14497619
  • Updated Date : 01/16/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,071 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14497619 - Built by Ashton Woods Homes - March completion! ~ From the wood siding and shingle window awning to the windows on each side of white Calacatta tile fireplace and luxurious wood look vinyl plank flooring throughout the main floor, each room truly has a unique and gorgeous feature. The open kitchen features several upgrades including Greystone shaker cabinetry, Maestro Quartz countertops, an eat-in bar top island, single bowl undermount sink, a Moen Arbor chrome faucet, Whirlpool gas stainless steel appliances with wall oven, white hexagon mosaic backsplash tile and a spacious walk-in pantry under the stairs. This home is perfectly situated across from the community amenity center!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k347k

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

Neighborhood: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Malvern Elementary School Primary Regular 540 42 3
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Malvern Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 42
3
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

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

$396,900$485,100$441,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,532
Property Tax -$862
Property Insurance -$205
HOA -$153
Property Management Fees -$99
CASH FLOW
-$530

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.

$441,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$118,865

INVESTMENT

$118,865

Down Payment
$110,250
Rehab Estimate
$2,000
Closing Costs
$6,615

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,250
Loan Amount $330,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$77

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,3205$2,500
$2,500
RENT COMPS ANALYSIS
  • 3205 Sarala Court Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,071 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,071 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.76
    •  
  • 2808 Golfview Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,054 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,054 Sqft ∙ Built 2013
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 813 Setting Sun Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
  • 800 Hardwood Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2013
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 2501 Dog Leg Trail Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,039 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,039 Sqft ∙ Built 2007
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497619
Last Updated: 01/16/2021
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