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8700 Denstone Drive Mckinney, TX 75070

4 Beds 3 Baths 2,754 sqft Built 2015

$410,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $148.87
  • 1 Days on Market
  • MLS # : 14461357
  • Updated Date : 11/02/2020 at 20:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

THIS IS THE LIFE! Prepare to be amazed when you enter this superbly maintained home presented on a lushly landscaped corner lot. Magazine worthy designer touches from top to bottom, this home enjoys abundant natural light and a layout designed for easy living & entertaining. 1st floor features a large kitchen + open living area as the heart of the home; a dreamy owners retreat w_ spa like master bath; study w_ walk-in closet could also serve as addtl bedroom. Extensive use of glass provides views of impeccably manicured arboretum like gardens to bring year-round delight. Gleaming wood floors, designer quality fittings & fixtures, plantation shutters, Kitchen-Aid aplncs & plentiful storage. THIS WON'T LAST LONG!

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

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k352k

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

Neighborhood: Craig Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262942

* 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,513
Property Tax -$772
Property Insurance -$186
HOA -$25
Property Management Fees -$99
CASH FLOW
-$436

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.

$410,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.7%
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-$10k-$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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1604$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 8700 Denstone Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.78
    •  
  • 3617 Lone Mountain Trail Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,679 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,679 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 8305 White Stallion Trail Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,681 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,681 Sqft ∙ Built 2005
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 3908 Sunglow Trail Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,715 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,715 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 3521 Camino Trail Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2008
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Robin Brown
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461357
Last Updated: 11/02/2020
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