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512 Turkey Creek Mckinney, TX 75071

4 Beds 4 Baths 3,347 sqft Built 2020

$567,990

List Price

$2,970

$2.7K - $3.2K

Rent Est.

$152,517

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+7.0%)
1 YR. PROJ. APPRECIATION


Cap Rate	2.5%
Cash Flow	-$7,380
Value Increase	$39,671

10 YEAR

Cash On Cash	-6.4%
Total Return	9.4%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

November 18, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2020
Price/Sqft : $169.70
5 Days on Market
MLS # : 14473219
Updated Date : 11/20/2020 at 09:45

CONSTRUCTION

Beds : 4
Floor Size : 3,347 sqft
Baths : 4 full

Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Award winning Drees Custom Home is splendidly spacious. Enjoy a luxurious one and half story home that includes traditional spaces, as well as an open layout for the family room, kitchen, and breakfast room. This open living area along with the covered porch creates an ideal space for relaxing evenings The second story includes a fourth bedroom with private bath plus a game room.

MARKET HIGHLIGHTS

Dallas Market Report

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)

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)

Zip Code: 75071

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

Zip Code: 75071

* 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

GreatSchools Rating

Scott Johnson Middle School

Education Level: Middle
# of students: 876
# of teachers: 65

GreatSchools Rating

Mckinney North High School

Education Level: High
# of students: 2,089
# of teachers: 134

GreatSchools Rating

FINANCIALS

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$511,191$624,78900$567,990

PURCHASE PRICE

$2,673$3,26700$2,970

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,970
EXPENSES	Loan Payment	-$2,096
	Property Tax	-$1,070
	Property Insurance	-$221
	HOA	-$100
	Property Management Fees	-$99



CASH FLOW -$615

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.

$567,990

PROJECTED PRICE

$2,970

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.94%
Appreciation Year (1-5)	7.0%
Maintenance Year (1-5)	3.00%
Vacancy	6.93%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$152,517

Down Payment	$141,998
Rehab Estimate	$2,000
Closing Costs	$8,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,096

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$141,998
Loan Amount	$425,993

See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,970
LIST RENT
$0.89
LIST RENT PER SQFT

$2,979
COMP ESTIMATED VALUE
$0.89
COMP AVG. RENT PER SQFT

Comps Range

$2,700

1$2,7002$2,7503$2,9504$2,9705$3,100

$3,100

RENT COMPS ANALYSIS

3,347
PROPERTY SQFT
$0.89
AVG RENT PER SQFT
$2,979
ESTIMATED VALUE
$2,970
LIST RENT

512 Turkey Creek Mckinney, TX 5

4 beds 4 baths ∙ 3,347 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,347 Sqft ∙ Built 2020
Price

Price Per SQFT

$567,990

$169.70
7805 Caddo Cove Mckinney, TX 1

4 beds 4 baths ∙ 3,324 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,324 Sqft ∙ Built 2016
SOLD 09/23/20
Price

Price Per SQFT

$440,000

$132.37
8008 Champion Creek Drive Mckinney, TX 2

4 beds 4 baths ∙ 3,247 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,247 Sqft ∙ Built 2020
SOLD 10/29/20
Price

Price Per SQFT

$455,418

$140.26
817 Winter Creek Drive Mckinney, TX 3

5 beds 5 baths ∙ 3,436 Sqft ∙ Built 2020 5 beds 5 baths ∙ 3,436 Sqft ∙ Built 2020
SOLD 10/22/20
Price

Price Per SQFT

$498,081

$144.96
521 Amistad Cove Mckinney, TX 4

4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,458 Sqft ∙ Built 2020
SOLD 11/02/20
Price

Price Per SQFT

$528,990

$152.98

512 Turkey Creek Mckinney, TX 4

4 beds 4 baths ∙ 3,347 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,347 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$2,970

$0.89
408 Lake Weatherford Mckinney, TX 1

4 beds 4 baths ∙ 3,129 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,129 Sqft ∙ Built 2018
LEASED 09/09/19
Rent

Rent Per SQFT

$2,700

$0.86
313 Village Creek Drive Mckinney, TX 2

4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018
LEASED 12/03/19
Rent

Rent Per SQFT

$2,750

$0.90
7916 Wichita Falls Boulevard Mckinney, TX 3

5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017
LEASED 09/16/19
Rent

Rent Per SQFT

$2,950

$0.92
709 Winter Creek Drive Mckinney, TX 5

5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019
LEASED 11/11/20
Rent

Rent Per SQFT

$3,100

$0.88

PROPERTY LISTING DETAILS

Jeanie Douthitt
Coldwell Banker Apex, Realtors

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473219
Last Updated: 11/20/2020

512 Turkey Creek Mckinney, TX 75071

$567,990

$2,970

$152,517

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Press Elementary School

Scott Johnson Middle School

Mckinney North High School

FINANCIALS

$511,191$624,78900$567,990

$2,673$3,26700$2,970

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$567,990

$2,970

0.52%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$2,096

0.42

$862

$567,990

$169.7

$477,424

$142.64

COMPS RANGE

PRICE COMPS ANALYSIS

$2,970

$0.89

$2,979

$0.89

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS