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4454 Lake Breeze Drive Mckinney, TX 75071

4 Beds 3 Baths 3,365 sqft Built 2020

$559,500

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $166.27
  • 4 Days on Market
  • MLS # : 14463413
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,365 sqft
  • Baths : 3 full
Listing Agent

J. Williams Real Estate Srvcs

Listing Agent's Description

Crescent Builders are redefining luxury! Wood floors, granite countertops and stainless steel appliances including double ovens are a few of the luxury features! Waterstone Estates in Mckinney is a gated community offering tons of amenities to its residents! The Carmel floor plan has just under 3400 square feet with an amazing 2 story plan! Kitchen has large island, stainless steel gas appliances and high end cabinetry. Home features huge game room upstairs and 2 bedrooms with a jack n Jill bath. Home has nice back patio, all wood stair case featuring all wood steps and risers and oversized 3 car garage. Too many high end features to list! Property is ready for you to make it your home!

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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

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
Webb Elementary School Primary Regular 400 34 3
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Webb Elementary School

  • Education Level: Primary
  • # of students: 400
  • # of teachers: 34
3
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$503,550$615,450$559,500

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,064
Property Tax -$1,054
Property Insurance -$222
HOA -$129
Property Management Fees -$99
CASH FLOW
-$808

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.

$559,500

PROJECTED PRICE

$2,760

PROJECTED RENT

0.49%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,268

INVESTMENT

$150,268

Down Payment
$139,875
Rehab Estimate
$2,000
Closing Costs
$8,393

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,064

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,875
Loan Amount $419,625
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$40

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,793

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$3,000
$3,000
RENT COMPS ANALYSIS
  • 4454 Lake Breeze Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,365 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,365 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.82
    •  
  • 4220 Waterstone Estates Drive Mckinney, TX 2
    • 4 beds 5 baths ∙ 3,620 Sqft ∙ Built 2018 4 beds 5 baths ∙ 3,620 Sqft ∙ Built 2018
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jonathan Finkenbiner
J. Williams Real Estate Srvcs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463413
Last Updated: 10/31/2020
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