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5606 Hillview Court Mckinney, TX 75072

4 Beds 4 Baths 3,277 sqft Built 1999

$448,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $136.99
  • 4 Days on Market
  • MLS # : 14492911
  • Updated Date : 01/09/2021 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,277 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lake Kiowa Premiere Real Estate

Listing Agent's Description

Beautiful, 2-Story Stonebridge Ranch home with 4 Bdrms, 3 full baths, and half bath. Recent kitchen remodel and upgrade with new SS appliances and quartz counters. Wood flooring throughout 1st floor. 3 BR's, 2 BA’s, Game and Media rooms up, Master down. Large walk-in closet in Master, plus garden tub and dual sinks W separate shower, new interior paint in most areas. Nicely landscaped yard W new built-in outdoor kitchen, incl gas BBQ, new roof and new wood fence in last 3 yrs.. Walk to Stonebridge Ranch CC just minutes away. McKinney schools, convenient shopping, restaurants, and services nearby.

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: 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
 

$404,010$493,790$448,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,559
Property Tax -$845
Property Insurance -$217
HOA -$70
Property Management Fees -$99
CASH FLOW
-$290

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.

$448,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.56%

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$124,709

INVESTMENT

$124,709

Down Payment
$112,225
Rehab Estimate
$5,750
Closing Costs
$6,734

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,559

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,225
Loan Amount $336,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,613

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,5004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 5606 Hillview Court Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,277 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,277 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 2648 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 1520 Timber Edge Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,281 Sqft ∙ Built 1993
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 5421 N Briar Ridge Circle Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1991
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.87
    •  
  • 6717 Stony Hill Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
John Halliburton
Lake Kiowa Premiere Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492911
Last Updated: 01/09/2021
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