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901 Queens Lake Trail Mckinney, TX 75071

4 Beds 3 Baths 2,321 sqft Built 2021

$488,687

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $210.55
  • 2 Days on Market
  • MLS # : 14501377
  • Updated Date : 01/16/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,321 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14501377 - Built by Highland Homes - June completion! ~ 1 story, 4 bedrooms, 3 baths, study, family room, dining area, wine hutch, extended master, extended patio & 2.5 car garage extended approximately 5 feet in depth. Open floor plan Elevation E, gorgeous upgraded brick, custom front door & uplights on premium cul-de-sac lot! Kitchen upgrades include quartz countertops, undercounter lights, backsplash & Silgranit sink! Security system, upgraded tile fireplace & hutch with glass doors. Master features drop in soaker tub, cultured marble shower pan & upgraded tile! Beautiful wood floors, upgraded carpet, pad & tile!

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: 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
 

$439,818$537,556$488,687

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,697
Property Tax -$920
Property Insurance -$161
HOA -$100
Property Management Fees -$99
CASH FLOW
-$668

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.

$488,687

PROJECTED PRICE

$2,310

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,502

INVESTMENT

$131,502

Down Payment
$122,172
Rehab Estimate
$2,000
Closing Costs
$7,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,172
Loan Amount $366,515
See What Happens When You Reinvest Cash Flow

0.08

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.

  • $2,310

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,292

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3103$2,5004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 901 Queens Lake Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.00
    •  
  • 7417 San Jacinto Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2015
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 7932 Krause Springs Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018
    property image
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 8628 Backwater Bay Cove Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 8524 Lake Arrowhead Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2019
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
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 #: 14501377
Last Updated: 01/16/2021
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