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3453 Estes Park Lane Mckinney, TX 75070

3 Beds 2 Baths 2,275 sqft Built 2007

$379,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $166.59
  • 2 Days on Market
  • MLS # : 14483069
  • Updated Date : 12/12/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent

Simply Texas Real Estate, Llc

Listing Agent's Description

Inside pictures will be loaded Sat. Dec 12 by 4:00pm Beautiful one story home in Stonebridge Ranch! 3 bedroom, 2 bath, study and 2 car garage. Hardwoods in Study, Formal Dining, and Family Room, Study w french doors. Oversized kitchen with ss appliances, center island and breakfast bar. Family room overlooks backyard. Texas sized master bedroom with updated bathroom, frameless shower, stand alone tub. Split bedrooms with updated secondary bath. Within walking distance to park. Bring your pickiest buyers!

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: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k461k

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

Neighborhood: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262791

* 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
Joyce Kelly Comstock Elementary School Primary Unknown 626 36 NA
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Joyce Kelly Comstock Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 36
NA
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,398
Property Tax -$714
Property Insurance -$159
HOA -$70
Property Management Fees -$99
CASH FLOW
-$310

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.

$379,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8003$1,8504$1,9005$2,130
$2,130
RENT COMPS ANALYSIS
  • 3453 Estes Park Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.94
    •  
  • 3513 Lone Mountain Trail Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2006
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
  • 7900 Laughing Waters Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3609 Flying A Trail Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 3636 Temecula Creek Trail Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tammy Flynn
Simply Texas Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483069
Last Updated: 12/12/2020
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