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9201 Bedford Lane Mckinney, TX 75071

4 Beds 2 Baths 1,922 sqft Built 2001

$309,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $161.24
  • 3 Days on Market
  • MLS # : 14498408
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,922 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Prosper ISD!!! Move-in ready four bedroom home in highly sought-after school district! Flexible floor-plan with a second living area or office. The open family room and dining area have vaulted ceilings and plenty of natural light. Solid bamboo flooring in all of the main living spaces and hallways. Split bedroom layout with a large master retreat. The master bath is complete with jetted garden tub, dual sinks, and separate shower. Spacious backyard with extended patio and pergola. Just minutes away from shopping, dining, and major roadways. Enjoy nearby Aviator park with splash pad, playground, and walking trails. This one won't last long!

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: Virginia Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Virginia Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9992171

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,076
Property Tax -$584
Property Insurance -$138
HOA -$20
Property Management Fees -$99
CASH FLOW
-$98

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.

$309,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8204$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 9201 Bedford Lane Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.95
    •  
  • 9113 Bedford Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 9228 Chesapeake Lane Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2002
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 9308 Newport Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2001
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 9213 Manassas Ridge Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 2000
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joel Treanor
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498408
Last Updated: 01/15/2021
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