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2606 Cedarwood Court Mckinney, TX 75072

4 Beds 4 Baths 3,992 sqft Built 1997

$599,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $150.05
  • 6 Days on Market
  • MLS # : 14464310
  • Updated Date : 11/03/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,992 sqft
  • Baths : 4 full
Listing Agent

Fathom Realty

Listing Agent's Description

Custom Home in the desirable community of Eldorado! Golf course lot, on a tree-lined cul-de-sac, in walking distance to the award-winning Valley Creek elementary school, with a pool! Besides a great location, this newly remodeled home is neutral so you can easily add your own touches. New carpet, appliances, paint and refinished wood flooring. The Owners Suite is up with two other bedrooms and a game room-media room. Downstairs is an extra bedroom with an attached bath and office that could be a 5th bedroom! There are many extras in this custom beauty, come see for yourself!

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: Village of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Village of Eldorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Valley Creek Elementary School Primary Regular 505 33 8
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Valley Creek Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 33
8
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,210
Property Tax -$1,128
Property Insurance -$258
HOA -$28
Property Management Fees -$99
CASH FLOW
-$983

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.

$599,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.46%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$23

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,904

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,740
1$2,7402$2,7503$2,8004$2,8955$2,900
$2,900
RENT COMPS ANALYSIS
  • 2606 Cedarwood Court Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,992 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,992 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.69
    •  
  • 1720 Waterside Drive Mckinney, TX 2
    • 5 beds 5 baths ∙ 4,001 Sqft ∙ Built 1998 5 beds 5 baths ∙ 4,001 Sqft ∙ Built 1998
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.69
    •  
  • 2312 Therrell Way Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,947 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,947 Sqft ∙ Built 2001
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.71
    •  
  • 2800 Woodstream Lane Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,873 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,873 Sqft ∙ Built 1997
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.75
    •  
  • 2705 Albany Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,812 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,812 Sqft ∙ Built 2014
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Linda Russell
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464310
Last Updated: 11/03/2020
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