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5436 Centeridge Lane Mckinney, TX 75071

4 Beds 4 Baths 3,703 sqft Built 2006

$488,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $131.79
  • 4 Days on Market
  • MLS # : 14535915
  • Updated Date : 03/27/2021 at 22:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,703 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Multiple Offers Received. Best and highest by 3-28 5pm .GRAND built home on corner lot in Prosper ISD. Dramatic open floor plan showcases soaring ceilings, crown molding, grand windows, & elegant lighting through out. French doors open to light infused office. Wide plank hickory floors on 1st floor. Kitchen features quartz countertops & island, glass subway tile backsplash & opens to Living Room w wall of windows & gas FP. Oversized Mstr. Bdrm has LVP floor. Ensuite bath w frameless glass shower, jetted tub & walk-in closet. 2nd floor has J&J Bdrms w Bath, Guest Bdrm, full Bath & bi-level Game & Media Room. Yard w vinyl deck, shed & landscape lighting.

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
John A. Baker Elementary School Primary Regular 698 53 8
Prosper High School High Regular 1,868 120 9
John A. Baker Elementary School Primary Unknown NA

John A. Baker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 53
8
GreatSchools Rating

Prosper High School

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

John A. Baker Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$439,200$536,800$488,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,695
Property Tax -$919
Property Insurance -$241
HOA -$48
Property Management Fees -$99
CASH FLOW
-$272

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.

$488,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.56%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,070

INVESTMENT

$135,070

Down Payment
$122,000
Rehab Estimate
$5,750
Closing Costs
$7,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,000
Loan Amount $366,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,944

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7303$2,7954$3,0005$3,150
$3,150
RENT COMPS ANALYSIS
  • 5436 Centeridge Lane Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,703 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,703 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.74
    •  
  • 3212 Orleans Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,705 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,705 Sqft ∙ Built 2017
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.72
    •  
  • 5625 Granada Drive Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,529 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,529 Sqft ∙ Built 2014
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.79
    •  
  • 5421 Binbranch Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,650 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,650 Sqft ∙ Built 2007
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
  • 3008 Orleans Drive Mckinney, TX 5
    • 5 beds 5 baths ∙ 3,701 Sqft ∙ Built 2018 5 beds 5 baths ∙ 3,701 Sqft ∙ Built 2018
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.85
    •  
PROPERTY LISTING DETAILS
Betty Bieker
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535915
Last Updated: 03/27/2021
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