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3920 Lindale Drive Mckinney, TX 75072

4 Beds 4 Baths 3,031 sqft Built 2002

$425,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $140.22
  • 2 Days on Market
  • MLS # : 14478981
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,031 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fraser Realty

Listing Agent's Description

This beautiful McKinney home with pool is ready for you! Featuring 4 beds, 3.5 baths, upstairs game room, formal dining and study you have room for every thing inside! But don't forget the backyard! The large lot has a heated pool and spa, freshly resurfaced, with room to roam, side yard for grilling, and a covered patio! Your private oasis has lots of trees, flowers, and an 8 foot board on board privacy fence! Inside the home features an open living space, stone accents, vaulted ceilings, and hand scraped hard wood floors. It is perfectly located a stone's throw away from Walker Elementary in the prided McKinney ISD! This beauty is move in ready and can be yours before Christmas! Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262335

* 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,568
Property Tax -$800
Property Insurance -$202
HOA -$42
Property Management Fees -$99
CASH FLOW
-$261

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.

$425,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.58%

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

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,554

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4503$2,5004$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3920 Lindale Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 1917 Lawnview Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,918 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,918 Sqft ∙ Built 2006
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 1600 Templegate Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,116 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,116 Sqft ∙ Built 2005
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 2408 Pharr Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2001
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 1921 Lawnview Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2005
    property image
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Melissa Lavalley
Fraser Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478981
Last Updated: 12/05/2020
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