Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8400 La Quinta Lane Mckinney, TX 75070

4 Beds 2 Baths 2,093 sqft Built 2003

$345,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $164.84
  • 4 Days on Market
  • MLS # : 14519087
  • Updated Date : 02/26/2021 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,093 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

Beautifully updated & well maintained home w-sought after 3 car garage in Craig Ranch.This open floor plan is perfect for gathering friends & family w-a spacious living area w-cozy fireplace.Living room opens to gourmet kitchen & breakfast area & has beautiful wood floors.The Chef in your family will love the double ovens,gas cook top,coffee bar & island.Wood floors continue into the large master bedroom w-a spacious wi closet.3 addtl bedrooms are split from master & one can double as office,gym or classroom.Covered patio for quiet mornings & nice size yard for pets or play.New Carpet 2021,Roof 2019,water heater 2018.Community amenities & great location.Walking distance to Olge elementary, parks & walking trail

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: 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
 

$310,500$379,500$345,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,198
Property Tax -$650
Property Insurance -$148
HOA -$42
Property Management Fees -$99
CASH FLOW
-$257

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.

$345,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.54%

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-$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,082

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
  • $0.9

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8505$1,880
$1,880
RENT COMPS ANALYSIS
  • 8400 La Quinta Lane Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.90
    •  
  • 4309 Rancho Del Norte Trail Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 2005
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 8501 La Quinta Lane Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2003
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 8308 Elk Mountain Trail Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2003
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 8409 White Stallion Trail Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2004
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
PROPERTY LISTING DETAILS
Mitchell Gropper
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519087
Last Updated: 02/26/2021
BESbswy