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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $104.93
- 2 Days on Market
- MLS # : 14488664
- Updated Date : 12/18/2020 at 22:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,040 sqft
- Baths : 2 full , 1 half
Listing Agent
First Texas
Listing Agent's Description
Two stories wonderful 4 bedrooms home with beautiful hardwood floors through out with chef size kitchen, granite counter tops and marble floors. Oversize bedrooms and lots of storage space; upstairs living space perfect for large home theater area. Newly repainted throughout the house, brand new carpet, new fence in 2020, new dishwasher installed in December 2020, AC and water heater replaced in 2019. Close to major roads 380 and 75, shopping, dining, and city facilities. Great for any family.
SEE MORE
- # 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: President's Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: President's Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,940 |
| EXPENSES | Loan Payment | -$1,177 |
| Property Tax | -$601 | |
| Property Insurance | -$203 | |
| HOA | -$20 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$160
|
||
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.
$319,000
PROJECTED PRICE
$1,940
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,285
LOAN DETAILS
$1,177
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $79,750 |
| Loan Amount | $239,250 |
2.25
YEARS SAVED
$6,229
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,940
LIST RENT -
$0.64
LIST RENT PER SQFT
-
$2,075
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
3316 Truman Street Mckinney, TX 2
- 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2003
![property image]()
- Rent
- Rent Per SQFT
- $1,940
- $0.64
-
3501 Grant Street Mckinney, TX 1
- 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
![property image]()
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,895
- $0.70
-
2105 Arthur Street Mckinney, TX 3
- 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2004
![property image]()
LEASED 10/04/20- Rent
- Rent Per SQFT
- $1,975
- $0.68
-
3609 Truman Street Mckinney, TX 4
- 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2004
![property image]()
LEASED 12/30/19- Rent
- Rent Per SQFT
- $2,050
- $0.66
-
3900 Gregory Drive Mckinney, TX 5
- 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2009
![property image]()
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,150
- $0.69
PROPERTY LISTING DETAILS
First Texas
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14488664
Last Updated: 12/18/2020
