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5103 Feather Mckinney, TX 75072

3 Beds 2 Baths 1,505 sqft Built 1992

$294,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $195.95
  • 4 Days on Market
  • MLS # : 14486642
  • Updated Date : 12/20/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

Gorgeous 3BR,2BA home at an unbeatable price! Contemporary designer finishes & upgrades make this move-in ready. New wood floors, new carpet, fresh paint, updated lighting, updated hardware, vaulted ceilings. Granite countertops, subway tile and stainless steel in updated kitchen. Casual dining area opens to relaxing living room anchored by a painted brick gas fireplace. Dramatic master with modern accent wall is dreamy and sophisticated. Extended patio and established landscaping for year-round outdoor enjoyment. Zoned for highly desirable Glen Oaks, Dowell and Boyd McKinney schools. Terrific location close to everything, plus all the amenities of Stonebridge Ranch! Bring your best offer, this one won't last!

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: Quail Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Quail Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10472275

* 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
Glen Oaks Elementary School Primary Regular 481 30 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Glen Oaks Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 30
10
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

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

$265,410$324,390$294,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,088
Property Tax -$555
Property Insurance -$114
HOA -$70
Property Management Fees -$99
CASH FLOW
-$137

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$294,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7904$1,7955$1,875
$1,875
RENT COMPS ANALYSIS
  • 5103 Feather Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.19
    •  
  • 5107 Feather Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1993
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 311 Eagle Point Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1991
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
  • 604 Pheasant Knoll Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1991
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 5121 Feather Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1992
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.12
    •  
PROPERTY LISTING DETAILS
Hannah Gigley
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486642
Last Updated: 12/20/2020
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