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3717 Sweetclover Drive Mckinney, TX 75071

4 Beds 2 Baths 1,974 sqft Built 2018

$330,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $167.17
  • 3 Days on Market
  • MLS # : 14500072
  • Updated Date : 01/16/2021 at 09:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,974 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Welcome to this impeccable home with laminate wood flooring in entry, study, kitchen, living room, master bedroom & 2nd bedroom. Stunning kitchen features quartz countertops, island, corner panty, breakfast bar & gas range. Desirable floorplan with 4 bedrooms plus a study with French doors and bay window. Inviting master bedroom includes custom closet with shelves and drawers, dual sinks, quartz counters, striking backsplash and spacious shower. Separate laundry room with built in cabinets. Extra features include 16 seer AC, Energy Star Appliances, gas water heater, radiant barrier and programmable thermostat. You will enjoy the backyard with covered patio as well as open patio and plenty of room to play.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,146
Property Tax -$622
Property Insurance -$141
HOA -$81
Property Management Fees -$99
CASH FLOW
-$159

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.

$330,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

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

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,0453$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3717 Sweetclover Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.98
    •  
  • 5636 Grove Cove Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2016
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.02
    •  
  • 4012 Eaton Park Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2015
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 5908 Aster Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2019
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 5601 Fringetree Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Rusty Pierce
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500072
Last Updated: 01/16/2021
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