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5608 Hidden Pine Lane Mckinney, TX 75070

4 Beds 2 Baths 2,314 sqft Built 2001

$312,500

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $135.05
  • 1 Days on Market
  • MLS # : 14518187
  • Updated Date : 03/13/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,314 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

OPEN HOUSE SAT 3-13-21, 1-4 PM. Enjoy this 4 bedroom, single-story with excellent location, 2 neighborhood pools, nearby parks and schools! Built by Highland Homes, the details really shine. Arched entries, crown moulding, great floorplan with high ceilings, beautiful gas fireplace, large family areas, plentiful windows, and large outdoor patio. As you enter, there is a large flexible space for your formal dining room, second living room or roomy home office. Kitchen has large island, smooth cooktop, plenty of cabinets. Large laundry room centrally located. Master suite with attached bath has separate shower, garden tub, large walk-in closet. Backyard has both covered and open patio, wood privacy fence.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pine Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Pine Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10932171

* 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
Johnson Elementary School Primary Regular 583 36 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Johnson Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 36
6
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$281,250$343,750$312,500

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,085
Property Tax -$589
Property Insurance -$161
HOA -$45
Property Management Fees -$99
CASH FLOW
-$69

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.

$312,500

PROJECTED PRICE

$1,910

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$88,563

INVESTMENT

$88,563

Down Payment
$78,125
Rehab Estimate
$5,750
Closing Costs
$4,688

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,125
Loan Amount $234,375
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9103$1,9754$1,9905$2,100
$2,100
RENT COMPS ANALYSIS
  • 5608 Hidden Pine Lane Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.83
    •  
  • 5216 Crossvine Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2001
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 6117 Dark Forest Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
  • 5816 Pine Meadow Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.90
    •  
  • 5801 Pinyon Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Charles Russell
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518187
Last Updated: 03/13/2021
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