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5116 Alpine Meadows Drive Mckinney, TX 75071

4 Beds 2 Baths 2,014 sqft Built 2005

$295,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $146.47
  • 4 Days on Market
  • MLS # : 14464893
  • Updated Date : 11/13/2020 at 22:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,014 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

MULTIPLE OFFERS HIGHEST & BEST BY SATURDAY, Nov 14 at 4 PM Spectacular spacious 4 bedrooms 2 baths, single-story floor plan in desirable Award-Winning Prosper ISD schools! Covered front porch w seating area and Stone Accents welcomes you to this Meticulously maintained and move-in ready home. The kitchen boasts elegance w granite countertops, 42 inches cabinets, plenty of storage, overlooking the living room with its fireplace, and views of the backyard covered patio. Split master suite with spacious bath offers a great escape from busy family life, walk-In Closet, garden tub, shower, and double sinks. Also, Walk-in closets in Bedrooms. Built-in Desk is fabulous for a Home Work Center! THIS IS A TRUE GEM!

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: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10382171

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,088
Property Tax -$556
Property Insurance -$144
HOA -$46
Property Management Fees -$99
CASH FLOW
-$82

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.

$295,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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-$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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

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 $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,913

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,8904$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 5116 Alpine Meadows Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 5012 Promised Land Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2011
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
  • 5028 Diamond Peak Court Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.94
    •  
  • 5104 Promised Land Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.94
    •  
  • 5012 Diamond Peak Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2011
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
PROPERTY LISTING DETAILS
Elizabeth Castro
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464893
Last Updated: 11/13/2020
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