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8008 Rocky Mountain Lane Mckinney, TX 75070

4 Beds 4 Baths 3,394 sqft Built 2008

$479,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $141.13
  • 3 Days on Market
  • MLS # : 14516736
  • Updated Date : 02/14/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,394 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Highest and best due Feb 13th at 8pm. Delightful, Beautifully maintained 4 bed, 3.5 bath, 4 living areas (FR-Study-GR-Media) in beautiful Aspendale with Frisco schools. Master bed down along w study. Charming kitchen w SS appls, 4 burner gas cktop, loads of cabinet space. Fm rm w stone FP, gas logs. Lovely views of backyard. Lrg utility room w tile flrs & cabinet storage. 3 bdrms, 2 full baths (1 J&J) upstairs. Spacious GR, Media w projector & screen, built-in shelves. 22x11 storage room off media. Entire interior of home painted in 2020 (including ceilings). Wood flrs in entry, DR & hallway to master. Sprinkler, security, New 30 yr roof 2019, 2 inch blinds, CF's in bdrms with WIC's.

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: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k461k

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

Neighborhood: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262791

* 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
Joyce Kelly Comstock Elementary School Primary Unknown NA
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Joyce Kelly Comstock Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,664
Property Tax -$902
Property Insurance -$223
HOA -$70
Property Management Fees -$99
CASH FLOW
-$398

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.

$479,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,579

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,2953$2,5604$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 8008 Rocky Mountain Lane Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,394 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,394 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.75
    •  
  • 8412 Laughing Waters Trail Mckinney, TX 1
    • 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.71
    •  
  • 3504 Flying A Trail Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,164 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,164 Sqft ∙ Built 2005
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 8809 Tatenhill Place Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 2015
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 7616 Powder Horn Lane Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Charly Clark
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516736
Last Updated: 02/14/2021
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