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6105 Prestwick Drive Mckinney, TX 75072

3 Beds 3 Baths 2,347 sqft Built 2000

$380,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $161.91
  • 4 Days on Market
  • MLS # : 14507311
  • Updated Date : 01/30/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,347 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Four Corners

Listing Agent's Description

Stunning one story, corner lot, greenbelt views in the superb community of Muirfield of Stonebridge. Open floorplan with split bedrooms, cozy see-through fireplace, spacious bedrooms and closets and easy flow kitchen. Gorgeous landscaping with front yard maintenance included in HOA fees. Golf course style living with close proximity to great schools, dining and shopping. MULTIPLE OFFERS. HIGHEST AND BEST due by Sunday, 8 pm.

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: 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,320
Property Tax -$716
Property Insurance -$163
HOA -$162
Property Management Fees -$99
CASH FLOW
-$319

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.

$380,000

PROJECTED PRICE

$2,140

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,148

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,1003$2,1004$2,1405$2,200
$2,200
RENT COMPS ANALYSIS
  • 6105 Prestwick Drive Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.91
    •  
  • 5907 Maize Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 1993
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.89
    •  
  • 1530 Timber Edge Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1996
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 2024 Aberdeen Avenue Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2000
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 1703 Crown Point Road Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
David Kraft
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507311
Last Updated: 01/30/2021
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