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3700 Temecula Creek Trail Mckinney, TX 75070

3 Beds 2 Baths 1,212 sqft Built 2004

$259,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $214.44
  • 2 Days on Market
  • MLS # : 14473296
  • Updated Date : 11/20/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 2 full
Listing Agent

Dream Castle Realty

Listing Agent's Description

INVESTOR'S ONLY DUE TO TENANT OCCUPIED! Located in prestigious Craig Ranch,FRISCO ISD !!! located within close proximity to a Park & community pool! Corner Lot , gorgeous stone elevation ,This home features 3 bdrm with a split floor plan for privacy and 2 full baths. Master bath offers dual sinks and a separate garden tub and shower. Living area is spacious and has gas starter fire place.Lovely kitchen and breakfast area offers view of beautiful backyard. Community offers Pool,Park. Super cute! Rented at $1599. lease ends May 2022.

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: 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$959
Property Tax -$490
Property Insurance -$97
HOA -$55
Property Management Fees -$99
CASH FLOW
-$190

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.

$259,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.58%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,306

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 3700 Temecula Creek Trail Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.25
    •  
  • 3924 Temecula Creek Trail Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 6920 Bountiful Grove Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 2909 St Johns Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 4608 Wheat Field Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
PROPERTY LISTING DETAILS
Bharti Mishra
Dream Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473296
Last Updated: 11/20/2020
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