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8212 Pine Island Mckinney, TX 75071

3 Beds 2 Baths 1,822 sqft Built 2020

INVESTimate

$358,036

List Price

$1,880

$1,692 - $2,068

Rent Est.

$382,955  ( +6.96%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $196.51
  • 2 Days on Market
  • MLS # : 14420759
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14420759 - Built by Highland Homes - January completion! ~ 1 story, 3 bedroom, 2 bath, study, family room, dining area, patio & 2 car garage ext.approx.5' in depth. Elevation C, white brick, custom front door & uplights w-extra coach light at rear garage on premium lot! Granite, upgraded backsplash, sink, undercounter lights. Security system, gas line @ patio.Drop in tub, cultured marble shower pan. Level 3 wood, Level 4 carpet.

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Scott Johnson Middle School Middle Regular 876 65 6
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

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
 

$322,232$393,840$358,036

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,321
Property Tax -$674
Property Insurance -$133
HOA -$100
Property Management Fees -$99
CASH FLOW
-$447

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.

$358,036

PROJECTED PRICE

$1,880

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.96%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,880

INVESTMENT

$96,880

Down Payment
$89,509
Rehab Estimate
$2,000
Closing Costs
$5,371

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,509
Loan Amount $268,527
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$1,9953$1,9954$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 8212 Pine Island Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.03
    •  
  • 812 Llano Falls Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2014
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.05
    •  
  • 825 Llano Falls Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2014
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 1020 Llano Falls Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 908 Llano Falls Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2015
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420759
Last Updated: 08/25/2020
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