Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3936 River Bend Street Mckinney, TX 75071

4 Beds 2 Baths 2,051 sqft Built 2018

$400,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $195.03
  • 3 Days on Market
  • MLS # : 14513817
  • Updated Date : 02/06/2021 at 11:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,051 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Showings begin Saturday Feb 6th. OPEN HOUSE Saturday and Sunday Feb 6th and 7th from 9-7. Beautiful 2.5 year old Highland Home. Single story with 4 bedrooms or 3 plus a study. The optional study was built in to this plan but built with solid doors -no glass- so it can easily be used for a bedroom. This home has all the beautiful features you would expect to find in a Highland Home along with upgraded flooring, the large built in hutch stained to match the kitchen cabinets, and a great bonus of having a garage that was extended to 25 feet in length so no problems parking the SUV or full size truck in the garage. You can not build this home new for the price being offered on this gently lived in home.

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
 

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

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,389
Property Tax -$753
Property Insurance -$146
HOA -$58
Property Management Fees -$99
CASH FLOW
-$365

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.

$400,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.52%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,9004$2,0805$2,100
$2,100
RENT COMPS ANALYSIS
  • 3936 River Bend Street Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.01
    •  
  • 2604 Avalon Creek Way Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2003
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2609 Avalon Creek Way Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2003
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 3220 Wiltshire Horn Avenue Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 3708 Saint Croix Avenue Mckinney, TX 5
    • 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
    •  
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 #: 14513817
Last Updated: 02/06/2021
BESbswy