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5432 Centeridge Lane Mckinney, TX 75071

4 Beds 4 Baths 2,886 sqft Built 2007

$365,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $126.47
  • 2 Days on Market
  • MLS # : 14479511
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,886 sqft
  • Baths : 3 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Immaculate two-story home on a spacious interior lot in a quiet subdivision close to parks and schools. Open concept with impressive foyer and private office. High ceilings with crown molding, luxury solid hardwood flooring, brand new carpet, and large windows that give every essence of sunlight. Two dining areas and Two living rooms with a bonus area on the upper level, and a fireplace on the main. The kitchen boasts stainless steel gas appliances and ample cabinet space. Luxurious master suite with a Jetted whirlpool and two oversized walk-in closets. Enjoy a convenient second master suite upstairs and low maintenance landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Robinson Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k373k

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

Neighborhood: Robinson Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262252

* 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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,347
Property Tax -$687
Property Insurance -$194
HOA -$42
Property Management Fees -$99
CASH FLOW
-$219

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.

$365,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,128

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1004$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 5432 Centeridge Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,886 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,886 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
  • 5417 Ridgepass Lane Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2006
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 5301 Ridgeson Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,768 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,768 Sqft ∙ Built 2005
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 5312 Ridgepass Lane Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 3100 Crossridge Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,954 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,954 Sqft ∙ Built 2006
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
PROPERTY LISTING DETAILS
Quen Williams
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479511
Last Updated: 12/04/2020
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