Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1116 Willow Tree Drive Mckinney, TX 75071

4 Beds 2 Baths 2,098 sqft Built 2004

$320,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $152.53
  • 3 Days on Market
  • MLS # : 14525526
  • Updated Date : 03/05/2021 at 19:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,098 sqft
  • Baths : 2 full
Listing Agent

Letshine Realty Llc

Listing Agent's Description

Well maintained 4-2 home. Huge Master, living room, large open kitchen and cozy second living area or dining room. Split bedrooms, 4th bedroom could be used as a study if desired. Double sinks in baths. This house is primed and ready for its new owner. Greenbelt lot with trees behind and no neighbors to the rear. Convenient location close to Hwy 75, 380 and 121. Shopping, parks, trails, excellent schools close by. Fence 2012, Water heater 2013, Roof 2020. Tenant occupied until April 15. If buyer close early than that, Please submit offer with a seller temporary residence lease back addendum. Sell As Is. All the information here need to be verified by buyer .

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: Brookview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Brookview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10022171

* 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
Minshew Elementary School Primary Regular 656 41 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Minshew Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,111
Property Tax -$603
Property Insurance -$148
HOA -$24
Property Management Fees -$99
CASH FLOW
-$225

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.

$320,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7505$1,760
$1,760
RENT COMPS ANALYSIS
  • 1116 Willow Tree Drive Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.84
    •  
  • 1013 Conner Court Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 605 Rocky Springs Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 1332 Annalea Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 1340 Scenic Hills Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2005
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Yao Chen
Letshine Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525526
Last Updated: 03/05/2021
BESbswy