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1928 Hackett Creek Drive Mckinney, TX 75072

3 Beds 3 Baths 2,320 sqft Built 2002

$365,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $157.33
  • 4 Days on Market
  • MLS # : 14535373
  • Updated Date : 03/26/2021 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,320 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dfwcityhomes

Listing Agent's Description

Multiple offers received. Best and final due Sunday, March 28, 6PM. Fantastic home in the highly sought after Fieldstone Place neighborhood of Stonebridge Ranch! This home features an open concept floor plan and spacious backyard with covered patio and large shed. 1st floor features open living, kitchen, and breakfast rooms, large master bedroom with ensuite bath, private office, and butlers pantry. 2nd floor features two bedrooms, loft with kitchenette, and enormous decked attic storage that could be a bonus room. Woodworkers garage has epoxy floor, vacuum and air cleaning system, built in workshop. See features, floorplan, and video tour posted online.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Fieldstone Place

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k369k

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

Neighborhood: Fieldstone Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262322

* 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
Bennett Elementary School Primary Regular 491 31 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Bennett Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 31
10
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,268
Property Tax -$687
Property Insurance -$161
HOA -$161
Property Management Fees -$99
CASH FLOW
-$216

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.

$365,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.59%

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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,187

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1603$2,2954$2,3995$2,400
$2,400
RENT COMPS ANALYSIS
  • 1928 Hackett Creek Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.93
    •  
  • 1701 Quarry Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,206 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,206 Sqft ∙ Built 2001
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 1713 Quarry Lane Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,428 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,428 Sqft ∙ Built 2005
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
  • 2413 Summerside Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 2000
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.95
    •  
  • 1801 Hackett Creek Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2000
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
Tod Franklin
Dfwcityhomes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535373
Last Updated: 03/26/2021
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