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8828 Autumn Lake Trail Mckinney, TX 75071

4 Beds 4 Baths 3,179 sqft Built 2020

$675,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $212.33
  • 6 Days on Market
  • MLS # : 14479400
  • Updated Date : 12/05/2020 at 13:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,179 sqft
  • Baths : 4 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14479400 - Built by Highland Homes - March completion! ~ Stunning spacious ONE story on Breathtaking Wooded Creek homesite! Large backyard for pool or entertaining with total privacy. Double entry front doors, open Gourmet kitchen with large island, built in Hutch, double oven, coffee bar and oversized pantry. Large open family and dining with 5 Huge picture windows looking over extended patio and wooded creek views! Extended master suite, HUGE mstr. closet leading into oversized utility room with built in sink and 6ft of countertop and cabinets. Oversized secondary bedrooms, one with shower instead of tub. Insulated 3 car garage. Projected HERS index score 58-60.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Zip Code: 75071

ZipNIR 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
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,490
Property Tax -$1,271
Property Insurance -$211
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,302

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$675,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,875

INVESTMENT

$180,875

Down Payment
$168,750
Rehab Estimate
$2,000
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,869

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8704$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 8828 Autumn Lake Trail Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.90
    •  
  • 408 Lake Weatherford Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,129 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,129 Sqft ∙ Built 2018
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
  • 313 Village Creek Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 7812 Wichita Falls Boulevard Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 7916 Wichita Falls Boulevard Mckinney, TX 5
    • 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479400
Last Updated: 12/05/2020
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