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5012 Stonecrest Drive Mckinney, TX 75071

4 Beds 2 Baths 2,113 sqft Built 2000

$325,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $153.81
  • 2 Days on Market
  • MLS # : 14507010
  • Updated Date : 02/06/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,113 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature Properties

Listing Agent's Description

Beautiful One Story Home in The Villages of Lake Forest on a quiet Cul De Sac. You are greeted by gorgeous wood floors, & tall ceilings. Private study w double French doors & 2 closets. Beautiful chair molding detail in formal dining room. Family Room is open to kitchen w views of the backyard w a large pergola covered patio area perfect for entertaining. Kitchen features granite counter tops, marble backsplash & SS dishwasher. Master is private & spacious. The master-bathroom has a separate shower & tub, his & her sinks plus a lrg walk-in closet. Split bedrooms are very spacious. Interior & exterior paint Feb, 2021,new water heater June 2017, roof replaced July, 2017, AC replaced October, 2019

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: Villages of Lake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Villages of Lake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Minshew Elementary School Primary Regular 656 41 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Minshew Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,129
Property Tax -$612
Property Insurance -$149
HOA -$39
Property Management Fees -$99
CASH FLOW
-$128

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.

$325,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 5012 Stonecrest Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 5013 Stonecrest Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2003
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 5107 Hawks Nest Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1993
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 5413 Pebble Court Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1999
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 5016 Grampian Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 1999
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Rodney Blaukat
Re/max Signature Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507010
Last Updated: 02/06/2021
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