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4512 Del Rey Avenue Mckinney, TX 75070

4 Beds 4 Baths 3,174 sqft Built 2017

INVESTimate

$399,900

List Price

$2,640

$2,390 - $2,890

Rent Est.

$429,253  ( +7.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $125.99
  • 3 Days on Market
  • MLS # : 14419758
  • Updated Date : 08/25/2020 at 14:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,174 sqft
  • Baths : 3 full , 1 half
Listing Agent

Creekview Realty

Listing Agent's Description

Immaculate home located in the impressive Frisco ISD near 121 and 75 in McKinney. This home was built by a custom builder and full of upgrades. Barn doors; designer lighting; 2 built-in desks; wood floors; tray-vaulted ceilings throughout make this a must see. The designer kitchen, Italian appliances, large pantry, and quartz countertops are a home-chef's dream. Its neutral theme is an excellent canvas for any homeowner. The cozy living room with its switch-to-start gas fireplace is great for unwinding. This is an ideal floorplan for families with a game room and all bedrooms upstairs. The owner’s retreat is a stunning getaway with its spa-like bathroom and 10x11 closet.

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: 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
Edris Elliott Elementary School Primary Regular 536 33 6
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Edris Elliott Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
6
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,475
Property Tax -$797
Property Insurance -$211
HOA -$54
Property Management Fees -$99
CASH FLOW
$4

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.

$399,900

PROJECTED PRICE

$2,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.34%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,658

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4503$2,6404$2,6505$2,995
$2,995
RENT COMPS ANALYSIS
  • 4512 Del Rey Avenue Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,174 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,174 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.83
    •  
  • 6417 Calloway Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2001
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.76
    •  
  • 5908 Silverton Avenue Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2014
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 6516 Dynamite Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 2017
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.87
    •  
  • 6505 Mandalay Court Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,144 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,144 Sqft ∙ Built 2017
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.95
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419758
Last Updated: 08/25/2020
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