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3313 Woodberry Lane Mckinney, TX 75071

4 Beds 3 Baths 2,816 sqft Built 1998

$370,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $131.39
  • 3 Days on Market
  • MLS # : 14536361
  • Updated Date : 03/19/2021 at 21:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,816 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dfw Home

Listing Agent's Description

Just finished renovations!!! Very new flooring, very new paint throughout the house and exterior, very new roof, granite countertops, double oven, stainless steel appliances, and shower enclosure in bathrooms! Big backyard with deck. 4 bedrooms and game room upstairs. Shower with Frameless glass. Great neighborhood and close to highway 75 and shopping centers.

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: Woodberry Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Woodberry Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292171

* 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
Slaughter Elementary School Primary Regular 650 50 6
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Slaughter Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 50
6
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,285
Property Tax -$697
Property Insurance -$190
HOA -$25
Property Management Fees -$99
CASH FLOW
-$406

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.

$370,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,8994$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 3313 Woodberry Lane Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.67
    •  
  • 3409 Ivy Glen Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,996 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,996 Sqft ∙ Built 1994
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.62
    •  
  • 3108 Kennedy Drive Mckinney, TX 3
    • 5 beds 3 baths ∙ 2,709 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,709 Sqft ∙ Built 2005
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.70
    •  
  • 2408 Emerald Lane Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 204 Devonshire Court Mckinney, TX 5
    • 5 beds 3 baths ∙ 2,920 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,920 Sqft ∙ Built 1995
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
PROPERTY LISTING DETAILS
Frank Wang
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536361
Last Updated: 03/19/2021
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