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3801 Landmark Drive Mckinney, TX 75072

5 Beds 3 Baths 3,359 sqft Built 2005

INVESTimate

$365,000

List Price

$2,500

$2,250 - $2,750

Rent Est.

$374,125  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $108.66
  • 5 Days on Market
  • MLS # : 14418565
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,359 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Beautifully maintained 5 Bedroom, 2 Story home in the Hillside at Winding Creek subdivision with great McKinney schools nearby. Recently painted. It's located in a quiet neighborhood on a cul-de-sac. The roof was replaced in 2017. The spacious master bedroom is on the second floor with a balcony, has his and hers walk-in-closets, and vanities. The gorgeous kitchen was updated in 2017 and has beautiful granite countertops and a modern backsplash. The home has an attached 3 Car tandem style garage, game room, media room and great size laundry room. Back yard is perfect for gatherings. Close to walking trails and parks.

SEE MORE

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: Hillside at Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k379k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Hillside at Winding Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262306

* 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
Walker Elementary School Primary Regular 572 34 9
Faubion Middle School Middle Regular 976 64 7
Mckinney Boyd High School High Regular 2,881 169 8

Walker Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 34
9
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,347
Property Tax -$687
Property Insurance -$221
HOA -$41
Property Management Fees -$99
CASH FLOW
$105

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,494

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5004$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 3801 Landmark Drive Mckinney, TX 3
    • 5 beds 3 baths ∙ 3,359 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,359 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
  • 1313 Kingsbrook Circle Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,392 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,392 Sqft ∙ Built 1997
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.69
    •  
  • 4906 Pecan Hill Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.69
    •  
  • 3817 Landsdowne Drive Mckinney, TX 4
    • 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,529 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
  • 4008 Oxbow Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,217 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,217 Sqft ∙ Built 2014
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Reshma Suarez
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418565
Last Updated: 08/22/2020
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