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904 Niblick Court Mckinney, TX 75072

5 Beds 5 Baths 3,743 sqft Built 2003

$615,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $164.31
  • 2 Days on Market
  • MLS # : 14526293
  • Updated Date : 03/06/2021 at 08:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,743 sqft
  • Baths : 4 full , 1 half
Listing Agent

Simply Texas Real Estate, Llc

Listing Agent's Description

Pictures will be uploaded on March 5th. Gorgeous Drees 5 bedrm home in Stonebridge Ranch. This home boasts hardwood floors throughout the first floor. Curved staircase w 2 story ceilings in the entry and family room. Large study with french doors that is separated, perfect when working from home. Kitchen is has tons of storage, glass front cabinets & is open. Family room has a double stacked mantel that goes to the ceiling & curved windows overlooking the backyard oasis. The master bedroom has a seating area, dual sinks with sit down vanity, garden tub & sep. shower. Upstairs features a huge gamerm, media rm, 3 bedrooms & 2 baths. The backyard has a covered patio, builtin grill & lagoon style pool & spa.

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: Hickory Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k451k

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

Neighborhood: Hickory Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262733

* 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
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,136
Property Tax -$1,158
Property Insurance -$243
HOA -$70
Property Management Fees -$99
CASH FLOW
-$777

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.

$615,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

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

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,891

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7503$2,9304$3,0505$3,100
$3,100
RENT COMPS ANALYSIS
  • 904 Niblick Court Mckinney, TX 3
    • 5 beds 5 baths ∙ 3,743 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,743 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $0.78
    •  
  • 15994 Trail Glen Drive Frisco, TX 1
    • 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 2012
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.70
    •  
  • 8904 Brook Hollow Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 1508 Woodhaven Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,962 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,962 Sqft ∙ Built 2000
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.77
    •  
  • 7900 Linksview Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tammy Flynn
Simply Texas Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526293
Last Updated: 03/06/2021
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