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4129 Sweet Birch Drive Mckinney, TX 75071

3 Beds 3 Baths 2,103 sqft Built 2021

$499,963

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $237.74
  • 6 Days on Market
  • MLS # : 14511427
  • Updated Date : 02/02/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,103 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14511427 - Built by Highland Homes - February completion! ~ Gorgeous Award-Winning Floorplan. Soaring ceilings throughout and tall windows to embrace natural light. Currently sitting on the corner of a cul-da-sac, this stunning home is filled with popular designer upgrades. Light colored floors, contrasted with 2-tone kitchen cabinets and built-in double ovens. Stone fireplace stacked to ceiling, noir lighting package and so much more. Tons of privacy!!!

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
 

$449,967$549,959$499,963

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,737
Property Tax -$942
Property Insurance -$149
HOA -$58
Property Management Fees -$99
CASH FLOW
-$1,123

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.

$499,963

PROJECTED PRICE

$1,860

PROJECTED RENT

0.37%

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-$18k-$16k-$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$134,490

INVESTMENT

$134,490

Down Payment
$124,991
Rehab Estimate
$2,000
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,991
Loan Amount $374,972
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$77

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8604$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 4129 Sweet Birch Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.88
    •  
  • 2620 Clear Brook Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 3209 Timber Ridge Trail Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 2833 Bentwood Way Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 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
    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 #: 14511427
Last Updated: 02/02/2021
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