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800 Charleston Street Mckinney, TX 75069

3 Beds 2 Baths 1,816 sqft Built 2020

$309,950

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $170.68
  • 5 Days on Market
  • MLS # : 14479762
  • Updated Date : 12/02/2020 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,816 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Absolutely pristine new construction home 0.6 miles from Downtown McKinney. Great floorplan with split bedrooms and spacious master. Master bath has double vanities and large closet. Open island kitchen with custom cabinets. Crown Moulding, tankless water heater and beautiful laminate flooring throughout with no carpet. Refrigerator, washer and dryer stay! Lots of windows for natural light looking out over the extended patio. 10 year structural warranty and 1 year mechanical. Wired for security alarm. Garage floor has epoxy paint. 16 seer HVAC system. 2 entry gates on fence. Fantastic new construction at only $309,950.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Lewisville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $66k344k

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

Neighborhood: Lewisville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7462051

* 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
Caldwell Elementary School Primary Regular 537 38 3
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Caldwell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 38
3
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$278,955$340,945$309,950

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,144
Property Tax -$614
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$51

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$309,950

PROJECTED PRICE

$2,040

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

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$84,137

INVESTMENT

$84,137

Down Payment
$77,488
Rehab Estimate
$2,000
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,488
Loan Amount $232,463
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,043

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9004$1,9005$2,040
$2,040
RENT COMPS ANALYSIS
  • 800 Charleston Street Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.12
    •  
  • 305 Carver Street Mckinney, TX 1
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2019
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.21
    •  
  • 309 Carver Street Mckinney, TX 2
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2019
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.21
    •  
  • 1201 N Tennessee Street Mckinney, TX 3
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2018
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
  • 1203 N Tennessee Street Mckinney, TX 4
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2020
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
PROPERTY LISTING DETAILS
Bruce Umstead
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479762
Last Updated: 12/02/2020
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