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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $171.35
- 4 Days on Market
- MLS # : 14517566
- Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,745 sqft
- Baths : 2 full
Listing Agent
Ultima Real Estate
Listing Agent's Description
Park View Lot & Allen ISD starts the conversation with this beautiful Mckinney Home. Three large split bedrooms, two bathrooms pushing 1800 square feet. Recent updates include: HVAC '20 with 10yr Warranty, Roof '19, Fence '17. Well cared for, ready for new owners. Energy Star Certified. Large owners retreat off living room features separate tub & walk in shower. Great closet space. Second bathroom has rare dual sinks. Welcoming front porch overlooking community park. Sought after Village Park Community. 121 & Lake Forest Location gives you easy access to 75. Ample Shopping, Restaurants, and entertainment spots nearby. $1K Flooring allowance with acceptable offer.
SEE MORE
- . 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: Village Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Village Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$1,039 |
| Property Tax | -$563 | |
| Property Insurance | -$128 | |
| HOA | -$49 | |
| 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.
$299,000
PROJECTED PRICE
$1,790
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,985
LOAN DETAILS
$1,039
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
3.08
YEARS SAVED
$7,621
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 -
$1.03
LIST RENT PER SQFT
-
$1,784
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
5413 Buckland Drive Mckinney, TX 2
- 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $1,790
- $1.03
-
5301 Oakley Road Mckinney, TX 1
- 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2006
LEASED 08/03/20- Rent
- Rent Per SQFT
- $1,750
- $0.97
-
5705 Broken Spur Mckinney, TX 3
- 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006
LEASED 08/03/20- Rent
- Rent Per SQFT
- $1,850
- $1.00
-
4301 Corral Court Mckinney, TX 4
- 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2009
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,995
- $1.05
-
5717 Amphora Avenue Mckinney, TX 5
- 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 2017
LEASED 08/02/20- Rent
- Rent Per SQFT
- $2,050
- $1.07
PROPERTY LISTING DETAILS
Ultima Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14517566
Last Updated: 02/11/2021
