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5420 Mill Run Drive Mckinney, TX 75072

3 Beds 2 Baths 1,796 sqft Built 1994

$289,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $161.41
  • 3 Days on Market
  • MLS # : 14497468
  • Updated Date : 01/15/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,796 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Mckinney

Listing Agent's Description

STONEBRIDGE RANCH...spacious 3 Bedroom, 2 Bath, one story in Quail Creek. New luxury vinyl flooring, paint & carpet throughout the home. Enjoy the view of patio & backyard from a wall of windows in the Family Room w its cozy fireplace. Formal Dining Room is to the right immediately off the Foyer and could also be used for a Study or second Living area. You'll find a large open kitchen overlooking the Breakfast Room w easy access to the back patio and deck. The Kitchen includes an island, gas cooktop, dishwasher, oven, microwave, pantry, 42 inch cabinets and a breakfast bar. The primary Bedroom features pretty windows w new blinds, jetted tub, separate shower, linen closet, double vanities and walk-in closet.

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: 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,007
Property Tax -$546
Property Insurance -$131
HOA -$67
Property Management Fees -$99
CASH FLOW
-$40

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.

$289,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.62%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8103$1,8754$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 5420 Mill Run Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.01
    •  
  • 604 Pheasant Knoll Mckinney, TX 1
    • 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
    •  
  • 5922 Mockingbird Lane Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1993
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.09
    •  
  • 5428 Crystal Court Mckinney, TX 4
    • 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
    •  
  • 5909 Mockingbird Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1994
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.10
    •  
PROPERTY LISTING DETAILS
Vikki Twigg
Ebby Halliday, Realtors Mckinney
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497468
Last Updated: 01/15/2021
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