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1320 Willow Tree Drive Mckinney, TX 75071

5 Beds 4 Baths 3,770 sqft Built 2005

$325,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $86.21
  • 4 Days on Market
  • MLS # : 14458403
  • Updated Date : 01/02/2021 at 09:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,770 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

**MULTIPLE OFFERS RECEIVED - HIGHEST AND BEST BY 6PM SUNDAY JAN 3RD** Bright and Open Large Family Home with room for everyone, 5 Bedrooms, 3 and a half baths and 3 living areas. Oversized corner lot that backs to tree lined greenspace and has a sliding gate into the backyard to park your toys. Features granite countertops, ceramic tile in entry and wet areas, wood flooring in formals and family room, remodeled master bath to include walk in handicap accessable shower, and remodeled one of the full baths upstairs. Removed wall between kitchen and family room and added breakfast bar for open living concept. Zoned for Boyd High School.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,199
Property Tax -$641
Property Insurance -$245
HOA -$24
Property Management Fees -$99
CASH FLOW
$343

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.

$325,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.78%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$51,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,856

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,5504$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1320 Willow Tree Drive Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,770 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,770 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.68
    •  
  • 609 Fortinbras Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2011
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.72
    •  
  • 6305 Canyon Crest Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2011
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.73
    •  
  • 3601 Trinidad Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,434 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,434 Sqft ∙ Built 2017
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
  • 832 Hidden Springs Court Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 2007
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Tina Thomas
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14458403
Last Updated: 01/02/2021
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