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3718 Ryeland Cove Mckinney, TX 75071

3 Beds 2 Baths 2,174 sqft Built 2018

$369,200

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $169.83
  • 1 Days on Market
  • MLS # : 14528270
  • Updated Date : 03/06/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,174 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Prestine 3 bedroom, 2 bathroom home in Erwin Farms on a cul de sac lot! Beautiful modern white and gray color palette in this 2018 built home. The kitchen is stunning with white custom cabinets, recessed lighting, gas cooktop and huge island. Entertain easily in the spacious living room that is open to the kitchen and features a wall of windows where natural lights cascades throughout the home and offers a grand view of the backyard. Relax and unwind in the primary bedroom with high ceilings and ensuite bathroom that offers dual sinks and shower with glass enclosure. Step out to the covered back patio and enjoy the large peaceful backyard. HOA amenities include community pool and park.

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: 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
 

$332,280$406,120$369,200

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,282
Property Tax -$695
Property Insurance -$153
HOA -$71
Property Management Fees -$99
CASH FLOW
-$160

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.

$369,200

PROJECTED PRICE

$2,140

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

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$103,588

INVESTMENT

$103,588

Down Payment
$92,300
Rehab Estimate
$5,750
Closing Costs
$5,538

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,300
Loan Amount $276,900
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,174

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,1004$2,1405$2,250
$2,250
RENT COMPS ANALYSIS
  • 3718 Ryeland Cove Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.98
    •  
  • 3609 Venetian Court Mckinney, TX 1
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2018
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 3501 Montadale Avenue Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2020
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 3708 Saint Croix Avenue Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 2016
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 3617 Venetian Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528270
Last Updated: 03/06/2021
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