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3400 Timber Glen Lane Mckinney, TX 75072

5 Beds 4 Baths 4,900 sqft Built 2005

INVESTimate

$650,000

List Price

$4,140

$3,890 - $4,390

Rent Est.

$666,250  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $132.65
  • 6 Days on Market
  • MLS # : 14415313
  • Updated Date : 08/25/2020 at 17:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,900 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

RARE FIND IN BLUFFS OF WINDING CREEK, Elegant Executive level 2 story w brick and stone exterior featuring a large front porch, and ornate iron front door. Wine Room, Lightlly scraped hardwoods at entry w cathedral ceiling in Front Living area, plantation shutters throughout in this 5 bedroom home, stone fireplace in Den, high level upgraded granite, impeccable attention to detail with heavy crown moldings, dramatic sweeping wrought iron staircase, coffered ceiling and wall of bookcases in Library, upgraded lighting in home, Chef's Enviable Kitchen with stunning granite and SS appliances, Master Spa Bath with double walk-thru shower, jetted tub, custom closet system w soft close doors and drawers, pool sized yd

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bluffs of Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k706k

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

Neighborhood: Bluffs of Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q215002000250030003500400045005000Rent in $11265029

* 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
Walker Elementary School Primary Regular 572 34 9
Faubion Middle School Middle Regular 976 64 7
Mckinney Boyd High School High Regular 2,881 169 8

Walker Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 34
9
GreatSchools Rating

Faubion Middle School

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

Mckinney Boyd High School

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

$585,000$715,000$650,000

PURCHASE PRICE

$3,726$4,554$4,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,140
EXPENSES Loan Payment -$2,398
Property Tax -$1,275
Property Insurance -$310
HOA -$41
Property Management Fees -$99
CASH FLOW
$17

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$4,140

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$22,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,140

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $4,092

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$4,1403$4,500
$4,500
RENT COMPS ANALYSIS
  • 3400 Timber Glen Lane Mckinney, TX 2
    • 5 beds 4 baths ∙ 4,900 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,900 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $4,140
    • $0.84
    •  
  • 4317 Blue Quail Drive Mckinney, TX 1
    • 5 beds 5 baths ∙ 4,987 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,987 Sqft ∙ Built 2007
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.70
    •  
  • 2300 Trenton Mckinney, TX 3
    • 4 beds 5 baths ∙ 4,625 Sqft ∙ Built 2006 4 beds 5 baths ∙ 4,625 Sqft ∙ Built 2006
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Marc Vita
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415313
Last Updated: 08/25/2020
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