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3609 Trinidad Drive Mckinney, TX 75071

5 Beds 3 Baths 3,086 sqft Built 2017

$415,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $134.48
  • 3 Days on Market
  • MLS # : 14479916
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,086 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful 2 story home! Stunning curb appeal with stone accents, front porch, and nice landscaping. Wood floors adorn the entry, hall, kitchen, dining, and family room. Gourmet kitchen with granite counters open to dining and family. Master suite is perfect for king size furniture. Adjoining flex space can be office, nursery, exercise, etc. Master bath with dual sinks, separate shower, and garden soaking tub. Backyard with covered patio is perfect for outdoor living and entertaining. This home is a MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Minshew Elementary School Primary Regular 656 41 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Minshew Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,531
Property Tax -$782
Property Insurance -$206
HOA -$125
Property Management Fees -$99
CASH FLOW
-$362

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.

$415,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,561

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,249
1$2,2492$2,3803$2,4004$2,6505$2,825
$2,825
RENT COMPS ANALYSIS
  • 3609 Trinidad Drive Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,086 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,086 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.77
    •  
  • 3716 Walden Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,249
    • $0.75
    •  
  • 100 Bellegrove Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 217 Gilpin Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.89
    •  
  • 412 Elm Creek Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 2010
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $0.87
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479916
Last Updated: 12/04/2020
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