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5708 Bedrock Drive Mckinney, TX 75070

4 Beds 3 Baths 3,110 sqft Built 2006

$350,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $112.54
  • 5 Days on Market
  • MLS # : 14462569
  • Updated Date : 11/02/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,110 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Premier

Listing Agent's Description

Super cute drive-up on this two story Brookstone home, walking distance to community pool! Wood look, low maintenance flooring ushers you into stacked formals with tons of natural light. Two living areas downstairs and two dining areas. Large open kitchen with island, gas stove, tons of counter space and cabinets opens to eat-in nook area with French doors to backyard. Loft area bonus-game room and large secondary bedrooms upstairs. Gigantic master bedroom with double sink and walk-in closet. Extended patio in back with huge backyard and pergola! Nestled conveniently close to HOA amenities, schools, shopping, and DNT, 75 & HWY 121.

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: Brookstone

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

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

Neighborhood: Brookstone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Edris Elliott Elementary School Primary Regular 536 33 6
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Edris Elliott Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
6
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,291
Property Tax -$659
Property Insurance -$207
HOA -$42
Property Management Fees -$99
CASH FLOW
-$78

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.

$350,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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$10k$12k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,950

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,301

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,2503$2,2954$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 5708 Bedrock Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,110 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,110 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.71
    •  
  • 5716 Pebble Ridge Drive Mckinney, TX 2
    • 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 6412 Eaglestone Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 2004
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.74
    •  
  • 5713 Quicksilver Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,078 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,078 Sqft ∙ Built 2006
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 6400 Eaglestone Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,182 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,182 Sqft ∙ Built 2005
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
PROPERTY LISTING DETAILS
Leonard Thomas Jr
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462569
Last Updated: 11/02/2020
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