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4304 Linwood Avenue Mckinney, TX 75071

4 Beds 3 Baths 2,764 sqft Built 2021

$466,948

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $168.94
  • 5 Days on Market
  • MLS # : 14503285
  • Updated Date : 01/20/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,764 sqft
  • Baths : 3 full
Listing Agent

Classic Property Management

Listing Agent's Description

Beautiful New Build by Bloomfield Homes, Ready August 2021! 4 Bed, 3 Bath Open Floorplan with Stone & Brick Exterior. Site Stained Nail Down Wood floors in common areas. Deluxe Kitchen with built-in luxury cabinetry, Stainless Steel appliances, gas cooking, and Level 2 Quartz counter tops. Family room features Vaulted Ceilings and a gorgeous Tile fireplace. Formal study. Spacious Bedroom Suite with window seat and Bathroom Suite. Covered back patio with Gas stub for grill. 2.5-car Garage with Cedar doors. Window coverings, Full Fence, and Sprinkler System included. Home sits on Oversized lot backing up to greenspace and trails. Call today to learn more!

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Harry Mckillop Elementary School Primary Regular 718 41 9
Melissa Middle School Middle Regular 331 21 10
Melissa High School High Regular 583 35 8

Harry Mckillop Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 41
9
GreatSchools Rating

Melissa Middle School

  • Education Level: Middle
  • # of students: 331
  • # of teachers: 21
10
GreatSchools Rating

Melissa High School

  • Education Level: High
  • # of students: 583
  • # of teachers: 35
8
GreatSchools Rating
 

$420,253$513,643$466,948

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,622
Property Tax -$879
Property Insurance -$187
HOA -$51
Property Management Fees -$99
CASH FLOW
-$768

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.

$466,948

PROJECTED PRICE

$2,070

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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-$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$125,741

INVESTMENT

$125,741

Down Payment
$116,737
Rehab Estimate
$2,000
Closing Costs
$7,004

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,737
Loan Amount $350,211
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,080

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0703$2,0954$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4304 Linwood Avenue Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.75
    •  
  • 604 Cypress Hill Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 505 Crystal Falls Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,886 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,886 Sqft ∙ Built 2004
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.73
    •  
  • 5113 Prospect Street Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 1000 Baynes Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2020
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503285
Last Updated: 01/20/2021
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