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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $158.63
- 2 Days on Market
- MLS # : 14481173
- Updated Date : 12/05/2020 at 14:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,026 sqft
- Baths : 3 full , 1 half
Listing Agent
Engel & Voelkers Dallas Park
Listing Agent's Description
LIVE in your happy place at Craig Ranch fostering a healthy lifestyle. This property is two doors from amenities such as an Olympic size aquatic complex, gym, spa, walking paths, park, tennis courts and a coffee shop. Airy with natural daylight, this open floor plan offers warmth in its design and centered around a great kitchen with gas cooking and a grand island open to the main living area. The living room is inviting with a gas fireplace visible from the dining area. Having a home office may inspire you to do it all from the comfort of home. Generous room sizes, walk-in closets, a 2nd living room makes great use of space with wonderful flow.
SEE MORE
- 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)
- . 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)
PRICE & RENT TRENDS
Neighborhood: Craig Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Craig Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,820 |
| EXPENSES | Loan Payment | -$1,771 |
| Property Tax | -$904 | |
| Property Insurance | -$202 | |
| HOA | -$89 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$245
|
||
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.
$480,000
PROJECTED PRICE
$2,820
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 2.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,950
LOAN DETAILS
$1,771
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $120,000 |
| Loan Amount | $360,000 |
2.25
YEARS SAVED
$9,013
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,820
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$3,018
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
7905 Avondale Drive Mckinney, TX 2
- 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $2,820
- $0.93
-
5909 Mayhew Court Mckinney, TX 1
- 4 beds 4 baths ∙ 2,902 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,902 Sqft ∙ Built 2016
LEASED 05/04/20- Rent
- Rent Per SQFT
- $2,700
- $0.93
-
6005 Millie Way Mckinney, TX 3
- 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2015
LEASED 12/31/19- Rent
- Rent Per SQFT
- $2,850
- $0.94
-
6005 Dr Kenneth Cooper Drive Mckinney, TX 4
- 4 beds 5 baths ∙ 3,026 Sqft ∙ Built 2016 4 beds 5 baths ∙ 3,026 Sqft ∙ Built 2016
LEASED 08/28/20- Rent
- Rent Per SQFT
- $3,050
- $1.01
-
7709 Avondale Drive Mckinney, TX 5
- 4 beds 4 baths ∙ 3,148 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,148 Sqft ∙ Built 2017
LEASED 09/13/20- Rent
- Rent Per SQFT
- $3,495
- $1.11
PROPERTY LISTING DETAILS
Engel & Voelkers Dallas Park
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14481173
Last Updated: 12/05/2020
