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5317 Sandstone Lane Mckinney, TX 75072

3 Beds 2 Baths 1,849 sqft Built 2001

$292,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $157.92
  • 3 Days on Market
  • MLS # : 14460382
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,849 sqft
  • Baths : 2 full
Listing Agent

Allie Beth Allman & Assoc.

Listing Agent's Description

Ready to be home for the holidays? Welcome to this one story corner lot home in Stone Brooke Crossing, ready for its new owners. Spacious entry leads you to light filled living room with soaring ceilings and beautiful large windows. Kitchen is open to the living area, and breakfast area with views of the private backyard. Home features three spacious bedrooms, two bathrooms and an additional room perfect for working from home or playroom for all. Relax at the end of the day under your covered patio with evening lighting and roll down solar shades on two sides. 2017 Roof & 2018 Water Heater. Don't forget to stop by the neighborhood pool and park!

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: Enclave at Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Enclave at Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10982300

* 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
 

$262,800$321,200$292,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,077
Property Tax -$550
Property Insurance -$134
HOA -$38
Property Management Fees -$99
CASH FLOW
-$119

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.

$292,000

PROJECTED PRICE

$1,780

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$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,642

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7803$1,7954$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 5317 Sandstone Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.96
    •  
  • 5432 Pebble Court Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1998
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 604 Pheasant Knoll Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1991
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 325 S Village Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1998
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 5428 Crystal Court Mckinney, TX 5
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1998
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
PROPERTY LISTING DETAILS
Marzella Zielke
Allie Beth Allman & Assoc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460382
Last Updated: 11/13/2020
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