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3617 Venetian Court Mckinney, TX 75071

3 Beds 2 Baths 2,165 sqft Built 2018

$355,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $163.97
  • 3 Days on Market
  • MLS # : 14466803
  • Updated Date : 11/06/2020 at 20:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,165 sqft
  • Baths : 2 full
Listing Agent

The Michael Group

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*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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,310
Property Tax -$669
Property Insurance -$152
HOA -$275
Property Management Fees -$99
CASH FLOW
-$435

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.

$355,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$2,0004$2,0705$2,200
$2,200
RENT COMPS ANALYSIS
  • 3617 Venetian Court Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.96
    •  
  • 3609 Venetian Court Mckinney, TX 1
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2018
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 3220 Wiltshire Horn Avenue Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 3712 Holley Ridge Way Mckinney, TX 3
    • 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
    •  
  • 3724 Holley Ridge Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2019
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Hung Tran
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466803
Last Updated: 11/06/2020
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