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5741 Wilford Drive Mckinney, TX 75070

3 Beds 2 Baths 1,900 sqft Built 2010

$325,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $171.05
  • 2 Days on Market
  • MLS # : 14477832
  • Updated Date : 11/27/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Patton International Propertie

Listing Agent's Description

You Will Not Find as Nicer, More Well Cared for Home Than This McKinney Jewel. The Pictures Tell the Story. Solid Surface Floors Throughout. Gorgeous Landscaping Front AND Rear, Including A Soothing Water Feature in The Back Yard That Can Be Enjoyed Throughout the Day from The Big, Covered Patio. Clean as A Tack and No Deferred Maintenance Needed (See the Feature Page) 3 Bedroom 2 Bath 2 Car Garage. Super Convenient Location! Allen ISD!

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: 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
 

$292,500$357,500$325,000

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 -$1,199
Property Tax -$612
Property Insurance -$137
HOA -$48
Property Management Fees -$99
CASH FLOW
-$286

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.

$325,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.56%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,823

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
  • $0.95

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8104$1,8505$1,945
$1,945
RENT COMPS ANALYSIS
  • 5741 Wilford Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 5912 Silver Buckle Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2006
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 4901 Concho Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2009
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 5705 Broken Spur Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 4700 Lasso Lane Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2008
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.96
    •  
PROPERTY LISTING DETAILS
Myla Patton
Patton International Propertie
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477832
Last Updated: 11/27/2020
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