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5940 Chisholm Trail Mckinney, TX 75070

3 Beds 2 Baths 1,867 sqft Built 2008

$310,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $166.04
  • 3 Days on Market
  • MLS # : 14507692
  • Updated Date : 01/30/2021 at 09:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Well maintained home in great location with Allen ISD schools. Home has been freshly painted and recarpeted. Open floor plan allows great space usage. Beautiful community pool and park. Great location close to major highways, schools, shopping, restaurants and medical facilities.

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: Saddle Club

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Saddle Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10972171

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,077
Property Tax -$584
Property Insurance -$135
HOA -$52
Property Management Fees -$99
CASH FLOW
-$46

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.

$310,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$1,9455$1,995
$1,995
RENT COMPS ANALYSIS
  • 5940 Chisholm Trail Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
  • 4300 Mesa Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 2009
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
  • 5705 Broken Spur Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 4700 Lasso Lane Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2008
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.96
    •  
  • 4301 Corral Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2009
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.05
    •  
PROPERTY LISTING DETAILS
Marla Sewall
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507692
Last Updated: 01/30/2021
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