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3929 Bamboo Trail Mckinney, TX 75071

3 Beds 3 Baths 2,348 sqft Built 2020

$450,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $191.65
  • 6 Days on Market
  • MLS # : 14462650
  • Updated Date : 10/30/2020 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,348 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14462650 - Built by Highland Homes - Ready Now! ~ Top-selling floorplan with grand front elevation and gorgeous white brick. Soaring 13 ft. ceilings throughout and open layout. Gourmet kitchen featuring double ovens, quartz countertops, and a built-in hutch area. Entertainment room perfect for movie night and huge extended master bedroom. Luxurious master bath with separate vanities and beautiful upgraded tile finishes. Wood floors throughout main areas and tons of other designer upgrades. Smart home features and HERS-rated home

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*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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,660
Property Tax -$851
Property Insurance -$163
HOA -$48
Property Management Fees -$99
CASH FLOW
-$801

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.45%

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) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,250

INVESTMENT

$121,250

Down Payment
$112,500
Rehab Estimate
$2,000
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8954$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 3929 Bamboo Trail Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.86
    •  
  • 2833 Glendale Way Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 2824 Bentwood Way Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2004
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 2808 Bentwood Way Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2006
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 2813 Fair Timber Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2007
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462650
Last Updated: 10/30/2020
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