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4217 Holburn Drive Mckinney, TX 75070

3 Beds 2 Baths 1,786 sqft Built 2014

$329,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $184.71
  • 3 Days on Market
  • MLS # : 14484169
  • Updated Date : 12/19/2020 at 20:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,786 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Excellent opportunity to own in Windsor Park! This gorgeous 1-story home showcases a fabulous floor plan with 3 bedrooms, 2 full baths, multiple living areas and beautiful hardwood flooring. The eat-in kitchen features an island with granite countertops, stainless steel appliances and abundant cabinet and counter space. The spacious family room anchored by a beautiful stone fireplace is the perfect space for entertaining! Your master suite is sure to impress with dual sinks, soaking tub, separate shower and a large walk-in closet! Relax underneath the covered 11’ 6” x 20’ patio and enjoy the backyard with plenty of room for pets or play! Storage shed included! Be sure to explore the community amenities nearby!

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
Mcgowen Elementary School Primary Regular 674 44 7
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,217
Property Tax -$621
Property Insurance -$130
HOA -$43
Property Management Fees -$99
CASH FLOW
-$201

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.

$329,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.58%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,8954$1,9005$1,910
$1,910
RENT COMPS ANALYSIS
  • 4217 Holburn Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.07
    •  
  • 4911 Redwood Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1998
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 4740 Evanshire Way Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 3803 Rose Court Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1997
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 4916 Redwood Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1998
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
Frankie Arthur
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 #: 14484169
Last Updated: 12/19/2020
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