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4611 Basil Drive Mckinney, TX 75070

3 Beds 2 Baths 1,506 sqft Built 1997

$234,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $155.98
  • 3 Days on Market
  • MLS # : 14472652
  • Updated Date : 11/27/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Great location on the west side of McKinney close to 121, 75 and all the conveniences of the Eldorado area with mature trees and wonderful landscaping. Also a short drive to the historic downtown area of McKinney. Light and bright single story with 3 bedrooms and 2 baths. Open floorplan with fireplace and a spacious living room with windows that offer lots of natural light. Backyard is nicely landscaped with a southern exposure covered patio and an additional open patio. Master includes an ensuite bath with separate shower, garden bathtub, dual sinks and walk in closet. Kitchen has an abundance of cabinets and plenty of counter space. Waiting for your individual touch!!

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: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10542171

* 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
Mcgowen Elementary School Primary Regular 674 44 7
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
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
 

$211,410$258,390$234,900

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 -$867
Property Tax -$442
Property Insurance -$114
HOA -$13
Property Management Fees -$99
CASH FLOW
$45

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.

$234,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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$100k$200k$300k$400k$500k$600k$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,402

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
  • $1.05

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6503$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 4611 Basil Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.05
    •  
  • 4510 Highlands Drive Mckinney, TX 2
    • 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
    •  
  • 4426 Santa Cruz Lane Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1987
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 3612 Mariner Street Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2004
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 4315 Durango Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1989
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kelly Calkins
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472652
Last Updated: 11/27/2020
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