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4912 Devon Drive Mckinney, TX 75070

5 Beds 4 Baths 3,200 sqft Built 2009

$465,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $145.31
  • 5 Days on Market
  • MLS # : 14513741
  • Updated Date : 02/10/2021 at 11:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,200 sqft
  • Baths : 4 full
Listing Agent

Tunmire Realty Llc

Listing Agent's Description

Welcome home to this one of a kind 5 beds 4 full baths home. Sits on a premium lot with the view of the fountain straight ahead. It's designed with a Mother-in-law suite comes with its own entrance. Yes, this home has two kitchens. You are welcome by the high ceiling foyer, an upgraded staircase with iron spindles takes you to the large Master and bath upstairs along with three other bdrms and two full baths and a game room, a total of three living rooms in this sweet home. This home is in great, great location, walk to the Exemplary Allen ISD Lindsey Elementary. Close to 121 and 75, Allen Outlet, Fairview event center and shops. Roof(2019), fence, and a smart garage opener with camera and online remote.

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: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k375k

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

Neighborhood: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262174

* 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
Lindsey Elementary School Primary Unknown NA
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Lindsey Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,615
Property Tax -$876
Property Insurance -$212
HOA -$54
Property Management Fees -$99
CASH FLOW
-$406

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.

$465,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,488

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4503$2,4504$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 4912 Devon Drive Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2009 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 5749 Yorkshire Road Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2012
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.74
    •  
  • 5416 Great Worth Way Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 5417 Hampshire Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2004
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.78
    •  
  • 4901 Sugar Valley Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2012
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tyson Chan
Tunmire Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513741
Last Updated: 02/10/2021
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