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4601 Avenida Lane Mckinney, TX 75070

4 Beds 4 Baths 3,560 sqft Built 2015

$559,900

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $157.28
  • 3 Days on Market
  • MLS # : 14523704
  • Updated Date : 03/06/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,560 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

MULTIPLE OFFERS REC. - PLS. SUBMIT HIGHEST & BEST BY 4 PM ON SUNDAY 3-7-21. Gorgeous architectural details incl. 2 Juliette balconies & winding staircase. Soaring ceilings. NO carpet. hardwood floors & high level tile throughout. Still looks BRAND new! Best layout w main bedroom suite & second bedroom & full bath downstairs, as well as a private office! Kitchen is FULL of upgrades! Gorgeous cabinets to the ceiling w lighting, glass doors, etc. Windows galore! Tons of natural light! Upstairs, lg gameroom & second living or media area w custom bar as centerpiece, 2 more BR'S w jack & jill bath. Bedrooms w huge walk-in closets! Cov patio & lg grassy back yard. Faces green space! 2 tankless WH. See upgrades list

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: 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
 

$503,910$615,890$559,900

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$1,945
Property Tax -$1,055
Property Insurance -$233
HOA -$54
Property Management Fees -$99
CASH FLOW
-$405

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.

$559,900

PROJECTED PRICE

$2,980

PROJECTED RENT

0.53%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7903$2,9804$3,0995$3,150
$3,150
RENT COMPS ANALYSIS
  • 4601 Avenida Lane Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,560 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,560 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $0.84
    •  
  • 4416 Querida Avenue Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2017
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.78
    •  
  • 4420 Querida Avenue Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 2017
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.81
    •  
  • 4232 Balandre Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2019
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,099
    • $0.85
    •  
  • 6816 Gallatin Street Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.90
    •  
PROPERTY LISTING DETAILS
Sharon Cummings
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523704
Last Updated: 03/06/2021
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