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4411 Cordova Lane Mckinney, TX 75070

3 Beds 2 Baths 1,252 sqft Built 1990

$249,999

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $199.68
  • 3 Days on Market
  • MLS # : 14504652
  • Updated Date : 01/22/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Plano

Listing Agent's Description

Beautiful, renovated tastefully is located in the highly desired subdivision of Seville Of The Highlands. This cute one story home has a fabulous open concept layout and plenty of space inside and outside for a first time buyer or an investor. Natural light and neutral modern color throughout the house. This house is a must see, hurry before its gone!

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: Seville of the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Seville of the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9832171

* 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
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$868
Property Tax -$471
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$42

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.

$249,999

PROJECTED PRICE

$1,580

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,396

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5803$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 4411 Cordova Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.26
    •  
  • 3105 Westview Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1999
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 4510 Highlands Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1996
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 4206 Buena Vista Lane Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1993
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 4434 Santa Fe Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1994
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jemi Khan
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504652
Last Updated: 01/22/2021
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