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4813 Shore Crest Drive Mckinney, TX 75070

4 Beds 3 Baths 3,046 sqft Built 2020

$680,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $223.24
  • 3 Days on Market
  • MLS # : 14518455
  • Updated Date : 02/25/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,046 sqft
  • Baths : 3 full
Listing Agent

Rocket Engine Realty Llc

Listing Agent's Description

CAPACIOUS NORTH FACING HOME WITH ACCESS TO EXEMPLARY SCHOOLS! + Step inside this TWO story home with 4 BR (2 Full BR and 2 FULL BA downstairs), vaulted ceiling, formal living and dining, game room and covered patio+ Fall in love with the stylish kitchen showcasing upgraded SS appliances, granite ctop, island, pantry and plenty of cabinet space + Escape in the master suite boasting a huge walk-in closet, dual sinks, garden tub, and separate shower +Host gatherings in the family room featuring with plenty of natural light +Better than new home which is move-in ready and hardly lived +Relax under the enormous covered patio +Close proximity to employment hubs, HWY 121, DNT and 75

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*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

* 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
Mcgowen Elementary School Primary Regular 674 44 7
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
GreatSchools Rating

Evans Middle School

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

Mckinney High School

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

$612,000$748,000$680,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,362
Property Tax -$1,281
Property Insurance -$203
HOA -$73
Property Management Fees -$99
CASH FLOW
-$1,628

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$680,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.35%

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) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$182,200

INVESTMENT

$182,200

Down Payment
$170,000
Rehab Estimate
$2,000
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,275
1$2,2752$2,3503$2,3904$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 4813 Shore Crest Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.78
    •  
  • 4904 Newbridge Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.77
    •  
  • 4820 Rushden Road Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,888 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,888 Sqft ∙ Built 2011
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.81
    •  
  • 5700 Silver Spur Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,028 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,028 Sqft ∙ Built 2007
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 5416 Great Worth Way Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
PROPERTY LISTING DETAILS
Poogle Narendran
Rocket Engine Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518455
Last Updated: 02/25/2021
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