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605 Rous Falls Mckinney, TX 75071

4 Beds 4 Baths 2,923 sqft Built 2018

$439,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $150.50
  • 4 Days on Market
  • MLS # : 14506427
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,923 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Stunning single story with modern design elements in the award-winning Trinity Falls! Experience great everyday living both inside and out. Open floor plan with large windows & great natural light. Island kitchen with breakfast bar, floor to ceiling cabinets with chrome hardware, & quartz countertops. Bonus room with french doors perfect for a game room, office, or media room w blackout blinds. Upgrades galore include amazing wood floors, plantation shutters, gas log fireplace, extended patio, landscaped backyard & 3 car garage. Private Master Suite. Only 6 miles from downtown McKinney. Enjoy the outdoors with a community pool, playgrounds, 350-acre park, bike trails, disc golf, amphitheater, lakes & dog park!

SEE MORE

MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$395,910$483,890$439,900

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,528
Property Tax -$829
Property Insurance -$196
HOA -$100
Property Management Fees -$99
CASH FLOW
-$152

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.

$439,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.59%

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) 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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,718

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,7504$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 605 Rous Falls Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,923 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,923 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 7401 Clear Rapids Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 313 Village Creek Drive Mckinney, TX 3
    • 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
    •  
  • 7812 Wichita Falls Boulevard Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 7916 Wichita Falls Boulevard Mckinney, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Chris Vogelsang
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506427
Last Updated: 02/06/2021
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