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400 James Herndon Trail Mckinney, TX 75071

4 Beds 4 Baths 3,591 sqft Built 2009

$489,900

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $136.42
  • 4 Days on Market
  • MLS # : 14463304
  • Updated Date : 11/01/2020 at 15:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,591 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Four Corners

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST & BEST DUE, MONDAY 11-2 at 5 PM. This stunning stone & brick elevation with 2.5 stall golf cart garage greets you at the curb. Upon entry, admire the hardwoods, ceramic tile, stretching from study into formal dining & main living. Entertain guests at a TX sized pub height stacked stone bar. A kitchen built to appease the family chef. Look at the additional built in cabinets! After a long day, retire to master suite with oversized walk-in shower, sunken garden tub, split vanities. Upstairs, oversized secondary bedrooms line catwalk surrounding loft & theater. Out back, entertain under covered patio watching kids play in the oversized yard with oasis pool! This is it!

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: Inwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Inwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262588

* 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
Minshew Elementary School Primary Regular 656 41 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Minshew Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

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

$440,910$538,890$489,900

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$1,808
Property Tax -$923
Property Insurance -$235
HOA -$35
Property Management Fees -$99
CASH FLOW
-$189

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.

$489,900

PROJECTED PRICE

$2,910

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.2%
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-$5.0k$0.0$5.0k$10k$15k

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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$13,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,927

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,7903$2,8004$2,8255$2,910
$2,910
RENT COMPS ANALYSIS
  • 400 James Herndon Trail Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,591 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,591 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $0.81
    •  
  • 4800 Jamestown Lane Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,251 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,251 Sqft ∙ Built 2000
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
  • 2717 White Rock Creek Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 2013
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.86
    •  
  • 3601 Trinidad Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,434 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,434 Sqft ∙ Built 2017
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
  • 412 Elm Creek Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,249 Sqft ∙ Built 2010
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $0.87
    •  
PROPERTY LISTING DETAILS
Matt Wandersee
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463304
Last Updated: 11/01/2020
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