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9909 Laurel Cherry Drive Mckinney, TX 75072

4 Beds 3 Baths 2,249 sqft Built 2006

$350,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $155.62
  • 4 Days on Market
  • MLS # : 14518355
  • Updated Date : 02/20/2021 at 18:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Elite Realty

Listing Agent's Description

Frisco ISD! Inviting house with wood floors and stainless steel appliances. Spacious master bedroom and bathroom with separate shower and tub. Covered patio looks into large backyard. House faces north, northwest, and has solar panels for reduced electricity bills. Quick access to Dallas North Tollway, Highway 380, US 75, and Sam Rayburn Tollway.

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: Winsor Meadows at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Winsor Meadows at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10282171

* 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
Gerald Sonntag Elementary School Primary Regular 688 43 NA
Sam And Ann Roach Middle School Middle Regular 963 68 10
Heritage High School High Regular 1,844 125 9

Gerald Sonntag Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 43
NA
GreatSchools Rating

Sam And Ann Roach Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 68
10
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,844
  • # of teachers: 125
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,216
Property Tax -$659
Property Insurance -$157
HOA -$39
Property Management Fees -$99
CASH FLOW
-$220

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.

$350,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.56%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$1,9904$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 9909 Laurel Cherry Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 9833 Fillmore Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 9912 Laurel Cherry Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.88
    •  
  • 9840 Old Field Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2005
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 9783 Old Field Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2004
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
John Martellini
Texas Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518355
Last Updated: 02/20/2021
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