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4208 Del Rey Avenue Mckinney, TX 75070

3 Beds 2 Baths 1,626 sqft Built 2019

$349,999

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $215.25
  • 3 Days on Market
  • MLS # : 14492405
  • Updated Date : 01/01/2021 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Perfect 3 bedroom 2 bath open layout with cohesive engineered wood floors, granite and quartz countertops, soft close cabinets and lighting and 10'+ ceilings throughout. Spacious walk-in closets in master and both bedrooms along with big utility room. Tech package includes wireless garage door, thermostat, doorbell camera and security system. Upgrades include epoxy garage flooring, artificial grass and additional stone landscaping. Community pool and park included.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

* 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
Edris Elliott Elementary School Primary Regular 536 33 6
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Edris Elliott Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
6
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$314,999$384,999$349,999

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,291
Property Tax -$659
Property Insurance -$121
HOA -$54
Property Management Fees -$99
CASH FLOW
-$285

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.

$349,999

PROJECTED PRICE

$1,940

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,8004$1,8505$1,940
$1,940
RENT COMPS ANALYSIS
  • 4208 Del Rey Avenue Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.19
    •  
  • 5748 Touchstone Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 4309 Furrow Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2010
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 5817 Bedrock Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 5724 Rubblestone Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Scott Eskenazi
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492405
Last Updated: 01/01/2021
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