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4913 Lasso Lane Mckinney, TX 75070

3 Beds 2 Baths 2,223 sqft Built 2010

$347,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $156.10
  • 5 Days on Market
  • MLS # : 14489885
  • Updated Date : 01/07/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,223 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

Make your home in Saddle Club at McKinney Ranch. Three bedrooms, two living areas and office! Beautiful, well maintained home near the pool, park, trail, club house and Lindsey Elem. Enjoy the fireplace in the living room, overlooking backyard, patio. Gameroom or den could be a second master. Working from home? There's a secluded office with windows overlooking the front yard. Eat-in kitchen with granite counters and bar top, gas cooktop and electric oven, great for entertaining large groups. Master bedroom, ensuite bath with walk-in closet, separate shower and garden tub. Roof and fence new in 2019, minutes from SH121 and employment centers, McKinney's parks and trails, restaurants and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Saddle Club

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Saddle Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10972171

* 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
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,205
Property Tax -$654
Property Insurance -$156
HOA -$55
Property Management Fees -$99
CASH FLOW
-$88

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.

$347,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,205

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,101

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,0953$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4913 Lasso Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.94
    •  
  • 5804 Chuck Wagon Lane Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2009
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 5021 Berkley Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2012
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 5816 Cranbrook Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 2013
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
  • 5701 Littleport Road Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2012
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cynthia Powell
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489885
Last Updated: 01/07/2021
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