Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6200 Exeter Avenue Mckinney, TX 75070

4 Beds 4 Baths 2,633 sqft Built 2016

$469,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $178.12
  • 7 Days on Market
  • MLS # : 14472190
  • Updated Date : 11/16/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,633 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Stunning corner lot home in highly desired Spicewood at Craig Ranch! Light and bright with wood flooring and designer finishes throughout. Living space offers wall of windows for ample natural light, soaring ceilings and gorgeous fireplace. Kitchen boasts granite counters, large island, walk in pantry and tons of storage. Fantastic owner suite offers dual motorized shades, dual vanity, and large walk in shower. Open loft upstairs creates an fantastic entertaining space, with built-in work from home or virtual learning space. Great outdoor space, with large yard and pergola-covered patio. Just minutes away from TPC Craig Ranch and an abundance of dining and entertainment. Fantastic neighborhood amenities!

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

Neighborhood: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Kerr Elementary School Primary Regular 700 43 10
Kerr Elementary School Middle Regular 700 43 10
Lowery Freshman Center High Regular 1,571 104 8

Kerr Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Kerr Elementary School

  • Education Level: Middle
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$422,100$515,900$469,000

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 -$1,730
Property Tax -$883
Property Insurance -$179
HOA -$95
Property Management Fees -$99
CASH FLOW
-$387

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.

$469,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,963

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
  • $0.99

    LIST RENT PER SQFT
  • $2,738

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,5953$2,6004$2,7505$2,850
$2,850
RENT COMPS ANALYSIS
  • 6200 Exeter Avenue Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,633 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,633 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 7317 Caladium Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2017
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.00
    •  
  • 7409 Collin Mckinney Parkway Mckinney, TX 2
    • 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2016
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 7005 Collin Mckinney Parkway Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2019
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.08
    •  
  • 6300 Exeter Avenue Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Christie Cannon
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472190
Last Updated: 11/16/2020
BESbswy