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5600 Leven Lane Mckinney, TX 75070

4 Beds 4 Baths 3,291 sqft Built 2006

$399,999

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $121.54
  • 1 Days on Market
  • MLS # : 14509880
  • Updated Date : 01/31/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,291 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp & Associates Plano

Listing Agent's Description

This stunning water-view former model is loaded with upgrades throughout, nested in the corner lot with the community pool right in front of the house for access. This floor plan has soaring ceiling as you enter and beautiful open staircase with iron spindles. The Gourmet kitchen has SS appliance, plenty of cabinets and counter space along with eat in kitchen option with bay window seating. Home also features a Game room, media room, Master down and 3 spacious bedrooms upstairs, covered patio, and so much more. Zoned in exemplary Allen ISD with easy commute for HWY access. An absolute must see!

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: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k375k

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

Neighborhood: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262174

* 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
Lindsey Elementary School Primary Unknown NA
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Lindsey Elementary School

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

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,389
Property Tax -$753
Property Insurance -$217
HOA -$44
Property Management Fees -$99
CASH FLOW
-$3

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.

$399,999

PROJECTED PRICE

$2,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,567

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5004$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 5600 Leven Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,291 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,291 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 5416 Great Worth Way Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 4900 Newbridge Drive Mckinney, TX 2
    • 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 5417 Hampshire Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2004
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.78
    •  
  • 4901 Sugar Valley Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2012
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jemi Khan
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509880
Last Updated: 01/31/2021
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