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3310 Sedona Lane Mckinney, TX 75070

4 Beds 2 Baths 2,297 sqft Built 1990

$309,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $134.52
  • 2 Days on Market
  • MLS # : 14472327
  • Updated Date : 11/21/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,297 sqft
  • Baths : 2 full
Listing Agent

Hometiva

Listing Agent's Description

Beautiful remodeled 4 bed, 2 bath home in Mckinney ISD. Upgrades include wood look tile throughout living areas, kitchen, master & office. New base boards, new paint, new Low E window glass on back of home, new lighting. New Trane HVAC system & ducts in 2019. Zoysia Sod! Open concept kitchen with quartz countertops, glass tile backsplash, stainless appliances & large bar area with plenty of seating! Main living area features high ceilings, brick fireplace and windows overlooking the backyard. Private master suite with large bath, new tile, quartz counters, new sinks & faucets. Backyard features motorized driveway gate for access to the garage, 8 ft board on board fence, covered porch & separate storage shed.

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: Seville of the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Seville of the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9832171

* 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
Mcgowen Elementary School Primary Regular 674 44 7
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,140
Property Tax -$582
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$221

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.

$309,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,901

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8203$1,8504$1,9505$2,050
$2,050
RENT COMPS ANALYSIS
  • 3310 Sedona Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.77
    •  
  • 4309 Sarasota Lane Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1991
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.82
    •  
  • 4607 Monte Vista Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1997
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 4605 Spanishmoss Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 1996
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 4403 Highlands Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1993
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.84
    •  
PROPERTY LISTING DETAILS
Brandon Carrington
Hometiva
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472327
Last Updated: 11/21/2020
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