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409 Preston Creek Drive Mckinney, TX 75072

4 Beds 4 Baths 2,911 sqft Built 2006

$449,900

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $154.55
  • 3 Days on Market
  • MLS # : 14520217
  • Updated Date : 02/27/2021 at 12:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,911 sqft
  • Baths : 3 full , 1 half
Listing Agent

Donnelli Realty Llc

Listing Agent's Description

Wonderful 1.5 story stone elevation home featuring cedar shutters and garage doors with a beautifully landscaped lot. Many fine interior appointments such as hand scraped hardwoods, stone fireplace, stone accented built-in wine niche, 5 burner gas stove, plantation shutters, custom kitchen cabinets, and granite countertops with a large island. Upstairs contains a media room, a game room with a wet-bar, and a full bath. All bedrooms are on the first floor and the 4th bedroom is currently serving as a work-out room. The backyard is a private oasis with a covered patio and a outdoor gas fireplace. Fridge & washer & dryer included. Neighborhood connected to walking and bike trails. Great location within McKinney.

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: Sorrellwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k539k

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

Neighborhood: Sorrellwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263116

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,563
Property Tax -$847
Property Insurance -$195
HOA -$35
Property Management Fees -$99
CASH FLOW
-$329

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.

$449,900

PROJECTED PRICE

$2,410

PROJECTED RENT

0.54%

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

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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,394

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,249
1$2,2492$2,4003$2,4104$2,4955$2,650
$2,650
RENT COMPS ANALYSIS
  • 409 Preston Creek Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.83
    •  
  • 3716 Walden Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2017
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,249
    • $0.75
    •  
  • 100 Bellegrove Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,953 Sqft ∙ Built 2014
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 509 Oak Point Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2013
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.84
    •  
  • 217 Gilpin Lane Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Richard Donnelli
Donnelli Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520217
Last Updated: 02/27/2021
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