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802 E Standifer Street Mckinney, TX 75069

3 Beds 2 Baths 1,752 sqft Built 2017

$324,950

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $185.47
  • 5 Days on Market
  • MLS # : 14473233
  • Updated Date : 11/18/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Pristine custom home only a half mile from downtown McKinney. Spacious one third acre lot. Open floorplan with split bedrooms, spacious master with double vanities, separate tub and shower and huge closet. Large secondary bedrooms. Cozy front porch adds to great drive-up appeal. Oversized garage and a driveway large enough for 6 cars. Upgraded foundation with 42 piers under a post tension slab. Special 100% financing available. Call listing agent for details.

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: Mouzon

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $67k344k

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

Neighborhood: Mouzon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7422051

* 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
Press Elementary School Primary Regular 495 40 5
Evans Middle School Middle Regular 1,443 90 8
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Evans Middle School

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

Mckinney North High School

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

$292,455$357,445$324,950

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,199
Property Tax -$612
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$298

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.

$324,950

PROJECTED PRICE

$1,740

PROJECTED RENT

0.54%

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) 8.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$91,862

INVESTMENT

$91,862

Down Payment
$81,238
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,238
Loan Amount $243,713
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6453$1,7404$1,7505$2,000
$2,000
RENT COMPS ANALYSIS
  • 802 E Standifer Street Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.99
    •  
  • 801 Healy Street Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 311 Ne Bridlegate Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1997
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.03
    •  
  • 913 S Kentucky Street Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 714 Brown Street Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2011
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.10
    •  
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 #: 14473233
Last Updated: 11/18/2020
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