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3608 Ancona Street Mckinney, TX 75071

3 Beds 2 Baths 1,879 sqft Built 2019

INVESTimate

$345,000

List Price

$1,890

$1,701 - $2,079

Rent Est.

$370,323  ( +7.34%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $183.61
  • 7 Days on Market
  • MLS # : 14414458
  • Updated Date : 08/20/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,879 sqft
  • Baths : 2 full
Listing Agent

Farmersville Real Estate Company

Listing Agent's Description

Virtually new Beazer home loaded with updates! This smart-home features an open-concept layout, beautiful wood floors, granite counter-tops, huge kitchen island, stainless steel appliances, gas cook-top, upgraded white cabinets & subway tile backsplash, art-niches, crown molding, & much more. Home also features a covered front porch with plenty if sitting room, covered back patio, & 3-car garage! Exterior includes full sprinklers & gutters. Terrific new community with swimming pool, club house, and walking trails. Enjoy the feeling of county seclusion, yet just minutes from shopping, dining and a host of other amenities. This home won't last! Please see *Matterport 3-D Virtual Link* under photo in MLS.

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

* 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
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,273
Property Tax -$650
Property Insurance -$136
HOA -$70
Property Management Fees -$99
CASH FLOW
-$338

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$345,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.34%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,425

INVESTMENT

$93,425

Down Payment
$86,250
Rehab Estimate
$2,000
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,105

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
  • $1.01

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,9004$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 3608 Ancona Street Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.01
    •  
  • 3724 Gotland Avenue Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2016
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 3617 Ashire Court Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2018
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
  • 3712 Holley Ridge Way Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 3616 Ancona Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2019
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.04
    •  
PROPERTY LISTING DETAILS
Derek Baker
Farmersville Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414458
Last Updated: 08/20/2020
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