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6012 Greywalls Drive Mckinney, TX 75072

3 Beds 4 Baths 3,033 sqft Built 2002

$415,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $136.83
  • 4 Days on Market
  • MLS # : 14497993
  • Updated Date : 01/15/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,033 sqft
  • Baths : 3 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

PLEASE SUBMIT HIGHEST AND BEST BY 1.18.2021 SELLER WILL REVIEW AT 5PM. Pull into the large driveway of your beautiful future residence poised on a large lot within the highly sought after Muirfield Point, and feel at home. Step onto beautiful hardwood floors and note the flood of natural light shining through the large windows of the home highlighting details like crown molding, trayed ceilings, new carpet and custom built-ins. Towering ceilings and 3000+sqft provide plenty of room for luxurious everyday living or allow for entertaining which is enhanced with the bose system installed through the downstairs, upstairs, and out on the patio. Move-in ready with fantastic locale - make this immaculate home yours.

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: Muirfield Point

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Muirfield Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262341

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,441
Property Tax -$782
Property Insurance -$202
HOA -$67
Property Management Fees -$99
CASH FLOW
-$141

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.

$415,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.59%

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

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,4004$2,4505$2,800
$2,800
RENT COMPS ANALYSIS
  • 6012 Greywalls Drive Mckinney, TX 4
    • 3 beds 4 baths ∙ 3,033 Sqft ∙ Built 2002 3 beds 4 baths ∙ 3,033 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 2648 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 5600 Briar Ridge Circle Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 2653 Dunbar Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 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
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497993
Last Updated: 01/15/2021
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