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8817 Stenson Street Mckinney, TX 75070

4 Beds 3 Baths 2,038 sqft Built 2014

INVESTimate

$400,000

List Price

$2,110

$1,899 - $2,321

Rent Est.

$410,880  ( +2.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $196.27
  • 2 Days on Market
  • MLS # : 14399282
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,038 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Modern twist to a timeless traditional! Step into this light & bright open family room with corner fireplace, high ceilings & luxury vinyl plank flooring throughout the living area & bedrooms. Spacious kitchen offers upgraded maple cabinets with glass inserts, quartz counters, center island, breakfast bar & walk-in pantry. Primary bedroom en-suite boasts trey ceiling, maple cabinets, dual vanities, corner tub, walk-in shower & closet. Highlights include private study with french doors, & a separate laundry-mudroom! $8K Stucco exterior & $18K Spanish tile roof that has up to a 100 year lifespan! Premium location Cooper Fitness, TPC Craig Ranch, Dr Pepper StarCenter, plus a treasure trove of community amenities!

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
Bert And Eloise Isbell Elementary School Primary Regular 687 38 10
Lawlor Middle School Middle Regular NA
Liberty High School High Regular 2,039 137 9

Bert And Eloise Isbell Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 38
10
GreatSchools Rating

Lawlor Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,899$2,321$2,110

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,476
Property Tax -$753
Property Insurance -$145
HOA -$25
Property Management Fees -$99
CASH FLOW
-$388

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.

$400,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,885

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1004$2,1105$2,200
$2,200
RENT COMPS ANALYSIS
  • 8817 Stenson Street Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.04
    •  
  • 8736 Paradise Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2005
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 15669 Buffalo Creek Drive Frisco, TX 2
    • 4 beds 2 baths ∙ 2,330 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,330 Sqft ∙ Built 2001
    property image
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 15787 Waterview Drive Frisco, TX 3
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2002
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 6400 Aldridge Drive Frisco, TX 5
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2002
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ginger Pickett
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14399282
Last Updated: 08/25/2020
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