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2517 Ever Birch Way Mckinney, TX 75071

4 Beds 4 Baths 3,072 sqft Built 2018

$515,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $167.64
  • 4 Days on Market
  • MLS # : 14517751
  • Updated Date : 02/25/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,072 sqft
  • Baths : 4 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

Relax and unwind in this beautiful, like new home built by Drees! Upon walk-in, you will find a timeless entrance that invites you into an open concept living area. Large kitchen with oversized island allows for great entertaining and gathering! The flowing living area boast big, beautiful windows as well as a sliding back door which provides ample natural light. Room to entertain or relax with the extended covered patio and the greenbelt lot provides added privacy and scenery. Study, two secondary bedrooms and owners suite down, and a game room, extra bedroom and full bath up. A desirable community with amenities to suite every life-style, you're sure to feel right at home! You won't want to miss this one!

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: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,789
Property Tax -$970
Property Insurance -$205
HOA -$48
Property Management Fees -$99
CASH FLOW
-$300

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.

$515,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4003$2,810
$2,810
RENT COMPS ANALYSIS
  • 2517 Ever Birch Way Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.91
    •  
  • 3120 Grant Street Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2005
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 3708 Headington Court Mckinney, TX 2
    • 3 beds 3 baths ∙ 3,193 Sqft ∙ Built 2014 3 beds 3 baths ∙ 3,193 Sqft ∙ Built 2014
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jessica Jones
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517751
Last Updated: 02/25/2021
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