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3620 Ashire Court Mckinney, TX 75071

3 Beds 2 Baths 1,800 sqft Built 2018

$322,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $178.89
  • 3 Days on Market
  • MLS # : 14488163
  • Updated Date : 01/15/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Next Level Realty

Listing Agent's Description

Megatel Homes' Juniper III Known for being unique by nature, McKinney is a city with no end to what it has to offer! Our Erwin Farms community is right in the heart of this vibrant city, just minutes away from HWY 75 and the city's must see historic downtown. This master-planned community features walking trails, a large pool and a community center perfect for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$289,800$354,200$322,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,118
Property Tax -$593
Property Insurance -$131
HOA -$8
Property Management Fees -$99
CASH FLOW
$20

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.

$322,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.61%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$91,080

INVESTMENT

$91,080

Down Payment
$80,500
Rehab Estimate
$5,750
Closing Costs
$4,830

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,500
Loan Amount $241,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$16,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9704$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3620 Ashire Court Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.09
    •  
  • 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
    •  
  • 3617 Ashire Court Mckinney, TX 2
    • 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
    •  
  • 3501 Montadale Avenue Mckinney, TX 5
    • 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2020
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kyle Martty
Next Level Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488163
Last Updated: 01/15/2021
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