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815 Cross Post Lane Mckinney, TX 75069

5 Beds 2 Baths 2,059 sqft Built 2003

$359,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $174.36
  • 3 Days on Market
  • MLS # : 14499820
  • Updated Date : 01/22/2021 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,059 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Rare opportunity to live on an 1 acre property in a great location with NO HOA! Delightful Country Living minutes from the Lake Lavon and yet still close to all city conveniences. This gorgeous , move-in ready home with upgrades galore is waiting for you to enjoy it's wonderful charm. Open living room with cozy fireplace, upgraded kitchen with Stainless Steel Frigidaire Gallery Appliances, 5 spacious bedrooms & elegant dinning room. Slate & Laminate Wood Floors, Plantation Shutters, Crown Molding, Steel Framed Front door, Perimeter Fence with Iron Fencing along front, Storage building, RV & Boat parking, Exterior LED Down Lighting. Enjoy beautiful sunsets and solitude on large Patio with Sound System. MUST SEE!

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122051

* 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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,247
Property Tax -$676
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$238

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$8.0k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,9304$2,0505$2,050
$2,050
RENT COMPS ANALYSIS
  • 815 Cross Post Lane Mckinney, TX 3
    • 5 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003 5 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.94
    •  
  • 766 Bayonet Street Princeton, TX 1
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 814 Spruce Lane Princeton, TX 2
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 752 Cascade Lane Princeton, TX 4
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2020
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
  • 625 Hidden Cove Princeton, TX 5
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2020
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
PROPERTY LISTING DETAILS
Iga Njagi
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499820
Last Updated: 01/22/2021
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