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8816 Arbor Creek Lane Mckinney, TX 75072

3 Beds 2 Baths 2,218 sqft Built 1998

$359,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $162.26
  • 2 Days on Market
  • MLS # : 14474150
  • Updated Date : 11/21/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,218 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

STUNNING, UPDATED SINGLE STORY! BUILT by DARLING HOMES. 2019 UPDATES include TRANE HVAC, ROOF, WATER HEATER AND FENCE WITH STEEL POSTS! Front door replaced! The floor plan is to die for! MAGINIFICENT KIT opens to LA with WBFP. Dining RM can also be a study. BDRMs are split from GAME ROOM or DEN. DREAM KIT! HUGE ISLAND, QUARTZ, Subway back splash, SS appls, painted cabs, drop-in designer sink W_ brushed nickle faucet, Nickle drawer pulls, huge pantry! Updated lighting. Plantation shutters. ENGINEERED WOOD, OVERSIZED TILE FLOORS. Large secondary BDRMs w_ updated bath, DBL rectangular sinks, fixtures. MSTR bath has soaking tub and separate shower, Quartz, DBL vanities. Open patio_yard great for entertaining!

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

Neighborhood: Falcon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Falcon Creek

NeighborhoodNIR 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
Eddins Elementary School Primary Regular 469 31 8
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Eddins Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 31
8
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
 

$323,910$395,890$359,900

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 -$1,328
Property Tax -$678
Property Insurance -$155
HOA -$67
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 14% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.52%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$25

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
  • $0.85

    LIST RENT PER SQFT
  • $2,024

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8803$2,0504$2,1005$2,249
$2,249
RENT COMPS ANALYSIS
  • 8816 Arbor Creek Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.85
    •  
  • 8809 Talon Court Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,078 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,078 Sqft ∙ Built 1996
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 8804 Falcon View Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1998
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 9000 Garden Grove Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,251 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,251 Sqft ∙ Built 2003
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 8701 Talon Court Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1996
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,249
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jeff Coats
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474150
Last Updated: 11/21/2020
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