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3808 Perkins Lane Mckinney, TX 75072

3 Beds 2 Baths 2,166 sqft Built 2015

$400,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $184.67
  • 5 Days on Market
  • MLS # : 14462760
  • Updated Date : 11/02/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,166 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

OPEN HOUSE Sunday Nov 1st from 2-4 PM. Stunning single story home in The Enclave of Hidden Creek. The home is just 5 years old and has been meticulously maintained. With beautiful flooring and the latest style of added decorator features it is a warm and inviting home in a small enclave of friendly neighbors. Located in the Southwest part of McKinney, it is close to both 75 and 121 for easy commute to other areas. Meanwhile there are many restaurants, shopping and grocery just outside the neighborhood. This area has just two streets with only 48 homes, yet is part of a larger neighborhood that has a full size pool with swim team, basketball and roller hockey arena, a playground and sand volleyball court.

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

* 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
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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,476
Property Tax -$753
Property Insurance -$152
HOA -$50
Property Management Fees -$99
CASH FLOW
-$471

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.

$400,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$55

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,8005$2,060
$2,060
RENT COMPS ANALYSIS
  • 3808 Perkins Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.95
    •  
  • 3003 Cedar Crest Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1997
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 2416 Dalhart Trail Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 2002
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 2317 Sheldon Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2001
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3003 Cedar Crest Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1997
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Chris Fetrow
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462760
Last Updated: 11/02/2020
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