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8501 Sea Pines Place Mckinney, TX 75072

4 Beds 3 Baths 3,445 sqft Built 2004

$490,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $142.24
  • 4 Days on Market
  • MLS # : 14507583
  • Updated Date : 01/29/2021 at 13:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,445 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Immaculate home sited on a spacious cul-de-sac lot with mature trees, a 3 car garage, and an impressive brick covered entryway. The formal living room has gorgeous hardwoods, a bay window, and double crown molding. Home has a security camera system pre-installed. Formal dining with chandelier and chair rim walls. Family room with fireplace. The gourmet kitchen has granite counters with an island and breakfast bar, gas cooktop, and backsplash. The master suite has a luxurious master bathroom with whirlpool tub and 2 closets. Covered patio and saltwater pool in the private yard. Smart home controls for AC and lawn watering. Come and see today!

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: Gallery at Stonebridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k506k

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

Neighborhood: Gallery at Stonebridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262945

* 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
Bennett Elementary School Primary Regular 491 31 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Bennett Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 31
10
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,702
Property Tax -$923
Property Insurance -$226
HOA -$70
Property Management Fees -$99
CASH FLOW
-$210

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.

$490,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,532

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,7004$2,7505$2,810
$2,810
RENT COMPS ANALYSIS
  • 8501 Sea Pines Place Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,445 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,445 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.82
    •  
  • 8708 Brook Hollow Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,416 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,416 Sqft ∙ Built 2002
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.66
    •  
  • 8804 Bear Creek Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2003
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
  • 8804 Bent Tree Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,523 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,523 Sqft ∙ Built 2006
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.77
    •  
  • 8904 Brook Hollow Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Alexandra Clement
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507583
Last Updated: 01/29/2021
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