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8964 Leroy Road Mckinney, TX 75069

3 Beds 2 Baths 1,178 sqft Built 1996

$129,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $109.51
  • 4 Days on Market
  • MLS # : 14507881
  • Updated Date : 01/28/2021 at 13:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,178 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Split floor plan with two bedrooms and bath at one end and master bedroom, bath and walk in closet at other end. home has tiled bathrooms, new flooring , baseboards, new paint, all windows updated or replaced as needed, new sink in guest bathroom. Includes: washer, dryer, electric stove, dishwasher is new, and refrigerator. Nice size lot with concrete pad in back yard. Has Carport. Being sold as is.

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122051

* 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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$116,100$141,900$129,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$448
Property Tax -$269
Property Insurance -$95
Property Management Fees -$99
CASH FLOW
$359

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.

$129,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.98%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$39,935

INVESTMENT

$39,935

Down Payment
$32,250
Rehab Estimate
$5,750
Closing Costs
$1,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$448

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,250
Loan Amount $96,750
See What Happens When You Reinvest Cash Flow

15.75

YEARS SAVED

$33,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,260

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3953$1,4504$1,500
$1,500
RENT COMPS ANALYSIS
  • 8964 Leroy Road Princeton, TX 1
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.08
    •  
  • 422 Harvard Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2006
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.05
    •  
  • 9085 Tumble Weed Trail Princeton, TX 3
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1996
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 414 Oxford Loop Princeton, TX 4
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2015
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jacque Swanner
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507881
Last Updated: 01/28/2021
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