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1412 Grapevine Cove Mckinney, TX 75071

4 Beds 4 Baths 3,840 sqft Built 2017

$480,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $125.00
  • 3 Days on Market
  • MLS # : 14504359
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,840 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Well-equipped and well kept-home in amazing master planned neighborhood. Superb location, oversized garage and ample storage space make this home a must see. Soaring ceiling in living room and oversized kitchen create an unmatched ease of living. Vaulted ceiling in the master bedroom and spacious master bath and closet combine for amazing experience in the downstairs master suite. Three bedrooms, game loft and media room upstaters provide flexible spaces for everyone. Large covered back patio is perfect for relaxation and entraining. A quick tour of this home will not be disappointing.

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

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
 

$432,000$528,000$480,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,667
Property Tax -$981
Property Insurance -$249
HOA -$60
Property Management Fees -$99
CASH FLOW
-$187

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.

$480,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.60%

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) 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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,110

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,870
1$2,8702$2,9503$3,100
$3,100
RENT COMPS ANALYSIS
  • 1412 Grapevine Cove Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,840 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,840 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.75
    •  
  • 1108 Bull Creek Drive Mckinney, TX 2
    • 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2018
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.74
    •  
  • 709 Winter Creek Drive Mckinney, TX 3
    • 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Christopher Mays
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504359
Last Updated: 01/22/2021
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