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925 Queens Lake Trail Mckinney, TX 75071

4 Beds 3 Baths 2,694 sqft Built 2020

$474,900

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $176.28
  • 3 Days on Market
  • MLS # : 14484996
  • Updated Date : 12/11/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,694 sqft
  • Baths : 3 full
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Home office with French doors and 11-foot ceiling set at two-story entry. Open kitchen features deep walk-in pantry and generous island with built-in seating space. Dining area opens to two-story family room with a wood mantel fireplace and a wall of windows. First-floor Primary suite includes bedroom with 10-foot tray ceiling. Double doors lead to primary bath with dual vanity, garden tub, separate glass-enclosed shower and large walk-in closet. An additional bedroom is downstairs. Two secondary bedrooms and game room with 10-foot tray ceiling are upstairs. Covered backyard patio. Mud room off two-car garage.

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
 

$427,410$522,390$474,900

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,752
Property Tax -$894
Property Insurance -$183
HOA -$100
Property Management Fees -$99
CASH FLOW
-$388

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.

$474,900

PROJECTED PRICE

$2,640

PROJECTED RENT

0.56%

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-$10k-$8.0k-$6.0k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,849

INVESTMENT

$127,849

Down Payment
$118,725
Rehab Estimate
$2,000
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,627

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6403$2,6504$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 925 Queens Lake Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.98
    •  
  • 8628 Backwater Bay Cove Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 8025 Deep Water Cove Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.95
    •  
  • 7401 Clear Rapids Drive Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 816 Heron Creek Pass Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484996
Last Updated: 12/11/2020
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