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3221 Sarala Court Mckinney, TX 75069

3 Beds 3 Baths 2,454 sqft Built 2021

$447,450

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $182.33
  • 4 Days on Market
  • MLS # : 14526816
  • Updated Date : 03/06/2021 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14526816 - Built by Ashton Woods Homes - April completion! ~ This 2-story craftsman style home has an all brick exterior and a charming covered front porch. The interior is just as inspiring as the exterior with a 2-story foyer, luxury vinyl plank flooring, dual pane windows, Moen faucets, energy efficient lighting, Brilliant home system, storage closet under the stairs, Ring doorbell, LED disc lights, hot water heater, a sizeable flex room with French doors and a pocket office with a built-in desk. The family room and kitchen are designed with Quartz countertops, an eat-in bar top island, Energy Star gas Whirlpool stainless steel gas appliances, a 30” gas cooktop, along with a tiled backsplash.

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: 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
 

$402,705$492,195$447,450

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,554
Property Tax -$867
Property Insurance -$169
HOA -$153
Property Management Fees -$99
CASH FLOW
-$742

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.

$447,450

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,574

INVESTMENT

$120,574

Down Payment
$111,863
Rehab Estimate
$2,000
Closing Costs
$6,712

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,554

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,863
Loan Amount $335,588
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$12

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,117

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3221 Sarala Court Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 2937 Dog Leg Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2008
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.79
    •  
  • 809 Ferrule Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,427 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,427 Sqft ∙ Built 2006
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 2801 Dog Leg Trail Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 2006
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 1109 Firewheel Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2002
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
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 #: 14526816
Last Updated: 03/06/2021
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