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3613 Lone Mountain Trail Mckinney, TX 75070

3 Beds 2 Baths 1,873 sqft Built 2005

$310,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $165.51
  • 2 Days on Market
  • MLS # : 14501005
  • Updated Date : 01/15/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Sharp and move-in ready in Craig Ranch, feeding into Frisco ISD! Fresh interior paint, new carpet, designer lighting and so much more in this three bedroom home. Open kitchen with granite counters, gas cooktop, island and backsplash with designer tile inlay. Spacious primary bedroom offers a large bath and massive walk-in closet. Split bedroom layout, plus the wonderful flex space at the front of the home - which can serve as a formal dining area, study or exercise room - offers a very functional floor plan for entertaining and everyday living. Community pool, jogging path. Truly a must-see home, and will not last. Online tour available. Open Sunday, 1-17-2021 from 2-4 PM; masks required.

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: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11082171

* 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
Dr. J.m. Ogle Elementary School Primary Regular 650 40 9
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Dr. J.m. Ogle Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 40
9
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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,077
Property Tax -$584
Property Insurance -$135
HOA -$46
Property Management Fees -$99
CASH FLOW
-$101

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.

$310,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8503$1,8904$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 3613 Lone Mountain Trail Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.98
    •  
  • 7804 Laughing Waters Trail Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 3632 Vista Verde Trail Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.05
    •  
  • 8109 Laughing Waters Trail Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 3705 Carmel Mountain Drive Mckinney, TX 5
    • 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cody Farris
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501005
Last Updated: 01/15/2021
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