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7312 Claridge Lane Mckinney, TX 75072

4 Beds 3 Baths 3,259 sqft Built 2000

$350,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $107.39
  • 4 Days on Market
  • MLS # : 14502072
  • Updated Date : 02/04/2021 at 19:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,259 sqft
  • Baths : 3 full
Listing Agent

Davidson Lane Real Estate Grp

Listing Agent's Description

Home sweet, peaceful home! Welcome to Stanford Meadow, a friendly neighborhood in Stonebridge Ranch. Enjoy the over-sized formal living & dining where memories are made. Grand, curved, statement staircase. Bright, fresh, open & ideal for entertaining. Convenient downstairs bedrm with full bath for a guest suite or office. Thoughtful kitchen layout,plenty of storage.Extra built-in desk, perfect spot to work or home school. Covered patio for outdoor entertaining,pool-sized backyard. This must be the place! MULTIPLE OFFERS RECEIVED. PLEASE SUBMIT HIGHEST & BEST BY 6:00pm Saturday Feb. 6th!!!

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: Stanford Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k383k

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

Neighborhood: Stanford Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262393

* 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
Bennett Elementary School Primary Regular 491 31 10
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Bennett Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 31
10
GreatSchools Rating

Evans Middle School

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

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,216
Property Tax -$719
Property Insurance -$216
HOA -$70
Property Management Fees -$99
CASH FLOW
$271

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,640

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4953$2,5904$2,6955$2,800
$2,800
RENT COMPS ANALYSIS
  • 7312 Claridge Lane Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.79
    •  
  • 8208 Rayburn Lane Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 8201 Livingston Lane Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2005
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.82
    •  
  • 7616 Powder Horn Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
  • 6717 Stony Hill Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lori Cota
Davidson Lane Real Estate Grp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502072
Last Updated: 02/04/2021
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