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4809 Spanish Oaks Drive Mckinney, TX 75070

5 Beds 4 Baths 3,224 sqft Built 2018

$529,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $164.08
  • 6 Days on Market
  • MLS # : 14464559
  • Updated Date : 11/03/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,224 sqft
  • Baths : 4 full
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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
Dr. J.m. Ogle Elementary School Primary Regular 650 40 9
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Dr. J.m. Ogle Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 40
9
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
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,952
Property Tax -$996
Property Insurance -$213
HOA -$55
Property Management Fees -$99
CASH FLOW
-$776

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.

$529,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.48%

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

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$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
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.

  • $2,540

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,474

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,5404$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 4809 Spanish Oaks Drive Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,224 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,224 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.79
    •  
  • 8209 Hitching Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 2006
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 4808 Rancho Del Norte Trail Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2003
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
  • 8312 Chickasaw Trail Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 2009
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
  • 7913 Texian Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2011
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464559
Last Updated: 11/03/2020
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