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8008 Twin Oaks Drive Mckinney, TX 75070

4 Beds 3 Baths 3,051 sqft Built 2003

$354,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $116.32
  • 4 Days on Market
  • MLS # : 14525487
  • Updated Date : 03/05/2021 at 13:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,051 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

FRISCO ISD! Amazing property in Craig Ranch! Close to neighborhood park and neighborhood pool. Immaculate and freshly painted. 4 spacious bedrooms, 2.5 bath, plus bonus flex room office with French doors. Formal dining room. Huge owners suite with an extra large master closet. Quiet backyard with pergola, perfect for relaxing or entertaining. Abundant natural light. Updates include: Roof Replacement in 2019. HVAC updates in 2015 and 2018. Foundation repair in 2012 with transferrable warranty. Easy commuter access to 121 and Custer.

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: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11082171

* 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
Dr. J.m. Ogle Elementary School Primary Regular 650 40 9
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Dr. J.m. Ogle Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 40
9
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
 

$319,410$390,390$354,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,233
Property Tax -$668
Property Insurance -$204
HOA -$59
Property Management Fees -$99
CASH FLOW
-$52

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.

$354,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$99,799

INVESTMENT

$99,799

Down Payment
$88,725
Rehab Estimate
$5,750
Closing Costs
$5,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,725
Loan Amount $266,175
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,365

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,3003$2,3504$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 8008 Twin Oaks Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.72
    •  
  • 4808 Rancho Del Norte Trail Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,218 Sqft ∙ Built 2003
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
  • 8001 Texian Trail Mckinney, TX 3
    • 3 beds 3 baths ∙ 3,061 Sqft ∙ Built 2011 3 beds 3 baths ∙ 3,061 Sqft ∙ Built 2011
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 7813 Riverwalk Trail Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2004
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
  • 7913 Texian Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2011
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Amanda O'mara
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525487
Last Updated: 03/05/2021
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