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4816 Mountain Ridge Lane Mckinney, TX 75071

3 Beds 2 Baths 1,479 sqft Built 2000

$259,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $175.73
  • 2 Days on Market
  • MLS # : 14520124
  • Updated Date : 03/20/2021 at 16:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,479 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS! Please send your High and Best by Sunday 3-21, BEFORE 6:00 PM: YOU'RE ABOUT TO FALL IN LOVE! ABSOLUTE DOLLHOUSE...BEAUTIFULLY UPDATED...SPRAWLING BACK YARD WITH LARGE OUTDOOR AREA FOR ENTERTAINING...PRIME LOCATION!!! Incredible open floorpan features beautiful windows throughout, vaulted ceilings, extensive laminate wood flooring, new carpet, designer paint, COMPLETE REMODEL OF KITCHEN & MASTER BATH (STUNNING!) & more! JUST MINUTES FROM...downtown Mckinney-Farmers Market, shopping, restaurants, Adriatica and Baylor hospital!!! MUST SEE UPDATES: COMPLETE KIT. & M. BATH REMODEL, NEW CARPET, HIGH END LAMINATE WD FLOORING, INTERIOR & EXTERIOR PAINT, LIGHT FIX. , PERGOLA, HVAC SYSTEM & MORE!

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: Highridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $115k344k

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

Neighborhood: Highridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9252171

* 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
Mcclure Elementary School Primary Regular 629 40 8
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Mcclure Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 40
8
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$903
Property Tax -$490
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$64

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.

$259,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

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) 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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5753$1,5954$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 4816 Mountain Ridge Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.04
    •  
  • 4901 Rustic Ridge Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 2001
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.02
    •  
  • 1316 Scenic Hills Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 2204 Spencer Place Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2010
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 4829 Brookridge Avenue Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2000
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kimberley Koepf
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520124
Last Updated: 03/20/2021
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