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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $167.17
- 3 Days on Market
- MLS # : 14500072
- Updated Date : 01/16/2021 at 09:13
CONSTRUCTION
- Beds : 4
- Floor Size : 1,974 sqft
- Baths : 2 full
Listing Agent
Re/max Dfw Associates
Listing Agent's Description
Welcome to this impeccable home with laminate wood flooring in entry, study, kitchen, living room, master bedroom & 2nd bedroom. Stunning kitchen features quartz countertops, island, corner panty, breakfast bar & gas range. Desirable floorplan with 4 bedrooms plus a study with French doors and bay window. Inviting master bedroom includes custom closet with shelves and drawers, dual sinks, quartz counters, striking backsplash and spacious shower. Separate laundry room with built in cabinets. Extra features include 16 seer AC, Energy Star Appliances, gas water heater, radiant barrier and programmable thermostat. You will enjoy the backyard with covered patio as well as open patio and plenty of room to play.
SEE MORE
- # 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: McKinney
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,146 |
| Property Tax | -$622 | |
| Property Insurance | -$141 | |
| HOA | -$81 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$159
|
||
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.
$330,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$93,200
LOAN DETAILS
$1,146
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $82,500 |
| Loan Amount | $247,500 |
2.17
YEARS SAVED
$4,892
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$2,053
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
-
3717 Sweetclover Drive Mckinney, TX 1
- 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $1,930
- $0.98
-
5636 Grove Cove Drive Mckinney, TX 2
- 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2016
LEASED 04/28/20- Rent
- Rent Per SQFT
- $2,045
- $1.02
-
4012 Eaton Park Drive Mckinney, TX 3
- 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2015
LEASED 09/03/20- Rent
- Rent Per SQFT
- $2,100
- $1.00
-
5908 Aster Drive Mckinney, TX 4
- 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019
LEASED 11/04/20- Rent
- Rent Per SQFT
- $2,100
- $1.06
-
5601 Fringetree Drive Mckinney, TX 5
- 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,200
- $1.08
PROPERTY LISTING DETAILS
Re/max Dfw Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14500072
Last Updated: 01/16/2021
