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

1507 Hunters Creek Drive Mckinney, TX 75072

4 Beds 4 Baths 3,246 sqft Built 1995

$395,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $121.69
  • 2 Days on Market
  • MLS # : 14501234
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,246 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

In the heart of sought after Stonebridge Ranch, your spacious 4BR 4Bath home with a pool awaits! The upstairs level owners suite is sure to impress with high ceilings, & an attached bonus sitting room or exercise room! Spacious Jack & Jill bedrooms up, each with it's own sink-vanity area, & a separate game room with French Doors & full bath. A guest suite downstairs offer the ideal space for the teen or a multi-generational family. Enjoy the stacked formal space for additional living, or easily separate to create a formal study or home office! The back yard offers large patio, plenty of lawn, diving pool & spa. New carpet & new flooring installed in the last few months. Beautiful potential to make it your own!

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

Neighborhood: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k421k

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

Neighborhood: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262494

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney Boyd High School

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

$355,500$434,500$395,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,372
Property Tax -$744
Property Insurance -$215
HOA -$70
Property Management Fees -$99
CASH FLOW
-$70

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.

$395,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.62%

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$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$8.0k$10k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,572

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,4304$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1507 Hunters Creek Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,246 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,246 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.75
    •  
  • 1520 Timber Edge Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 2633 Dunbar Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 5421 N Briar Ridge Circle Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1991
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.87
    •  
  • 6717 Stony Hill Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ron Hunt
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 #: 14501234
Last Updated: 01/16/2021
BESbswy