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5600 Hillview Court Mckinney, TX 75072

5 Beds 4 Baths 3,561 sqft Built 1998

$425,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $119.35
  • 4 Days on Market
  • MLS # : 14516406
  • Updated Date : 02/11/2021 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,561 sqft
  • Baths : 4 full
Listing Agent

Town Center Real Estate

Listing Agent's Description

Amazing buy in McKinney! THIS is the opportunity to get into sought after Stonebridge Ranch! Nestled on a corner lot in a cul-de-sac with landscaped and treed yard. Open and spacious floor plan. Large master with en suite and WIC, secondary bedroom with full bath, 2 living, 2 dining, spacious kitchen with lots of cabinets and counter space for entertaining ALL on 1st floor. The curved staircase takes you to the 2nd floor- awaiting is a game room, 3 bedrooms- all have WIC, and 2 full bathrooms. Tons of storage! Walking distance to Stonebridge Ranch CC, close to Mckinney ISD schools, shopping, and restaurants. Convenient to 75, 121 and DNT.

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: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k421k

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

Neighborhood: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262494

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

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

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,476
Property Tax -$800
Property Insurance -$233
HOA -$70
Property Management Fees -$99
CASH FLOW
-$249

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.

$425,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,350

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,4305$2,450
$2,450
RENT COMPS ANALYSIS
  • 5600 Hillview Court Mckinney, TX 4
    • 5 beds 4 baths ∙ 3,561 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,561 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.68
    •  
  • 1520 Timber Edge Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 1528 Timber Edge Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,631 Sqft ∙ Built 1990 4 beds 3 baths ∙ 3,631 Sqft ∙ Built 1990
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.63
    •  
  • 4906 Pecan Hill Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 1993
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.69
    •  
  • 5917 Spring Hill Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,750 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,750 Sqft ∙ Built 1992
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.65
    •  
PROPERTY LISTING DETAILS
Kimberly Reames
Town Center Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516406
Last Updated: 02/11/2021
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