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3512 Perkins Lane Mckinney, TX 75072

5 Beds 3 Baths 3,497 sqft Built 2015

$537,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $153.56
  • 2 Days on Market
  • MLS # : 14467597
  • Updated Date : 11/08/2020 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,497 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Stunning two story home in The Enclave of Hidden Creek. The home is meticulously maintained. Gorgeous wood flooring, beautifully decorated in a warm and inviting setting. Many upgrades throughout this house, large walk in closets in every room, security cameras, mudroom bench with beadboard and shaker cabinets, built in dressers in master bedroom closet and much more! Located in the Southwest part of McKinney, it is close to both 75 and 121 for easy commute to other areas. Easy access to many shopping, restaurants and grocery just outside the neighborhood.

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
 

$483,300$590,700$537,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,981
Property Tax -$1,011
Property Insurance -$229
HOA -$42
Property Management Fees -$99
CASH FLOW
-$783

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.

$537,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$148,055

INVESTMENT

$148,055

Down Payment
$134,250
Rehab Estimate
$5,750
Closing Costs
$8,055

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,250
Loan Amount $402,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,544

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5804$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 3512 Perkins Lane Mckinney, TX 3
    • 5 beds 3 baths ∙ 3,497 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,497 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.74
    •  
  • 1313 Kingsbrook Circle Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,392 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,392 Sqft ∙ Built 1997
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.69
    •  
  • 3921 Cockrill Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,631 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,631 Sqft ∙ Built 2004
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.69
    •  
  • 2020 Fleming Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,334 Sqft ∙ Built 1999
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
  • 3817 Landsdowne Drive Mckinney, TX 5
    • 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Xu Johnson
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467597
Last Updated: 11/08/2020
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