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4209 Primrose Drive Mckinney, TX 75070

3 Beds 2 Baths 1,860 sqft Built 1995

$288,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $155.32
  • 4 Days on Market
  • MLS # : 14507095
  • Updated Date : 01/28/2021 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Deadline for highest and best is Sunday, January 31st at 10:00 am. Adorable 1-Story Home with Oversized Backyard in the Heart of McKinney. Luxury Vinyl Plank and Tile Throughout. Updated Kitchen with Painted Cabinets, Subway Backsplash, Stainless Steel Appliances including Gas Range with Double Oven. Breakfast Area with Window Seat. Living Room boasts Wood Burning Fireplace with Gas Logs. Master Bathroom has Updated Vanity, Jetted Tub, Separate Shower with Subway Tiles and Walk-In Closet. 2 Guest Bedrooms share Hall Bathroom. Separate Utility Room. Extended Patio and Large fenced in yard big enough for a pool. NEST Thermostat and Solar Screens.

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: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10542171

* 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
Mcneil Elementary School Primary Regular 445 32 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcneil Elementary School

  • Education Level: Primary
  • # of students: 445
  • # of teachers: 32
6
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney High School

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

$260,010$317,790$288,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,003
Property Tax -$544
Property Insurance -$135
HOA -$13
Property Management Fees -$99
CASH FLOW
-$34

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.

$288,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,309

INVESTMENT

$82,309

Down Payment
$72,225
Rehab Estimate
$5,750
Closing Costs
$4,334

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,003

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,225
Loan Amount $216,675
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7604$1,8255$1,895
$1,895
RENT COMPS ANALYSIS
  • 4209 Primrose Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.95
    •  
  • 4213 Magnolia Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 3325 Jacobs Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1998
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 4215 English Ivy Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1995
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.98
    •  
  • 4610 Monte Vista Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1997
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
PROPERTY LISTING DETAILS
Shannon Patterson
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 #: 14507095
Last Updated: 01/28/2021
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