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6201 Hawk Hill Drive Mckinney, TX 75071

4 Beds 4 Baths 3,486 sqft Built 2006

INVESTimate

$475,000

List Price

$2,570

$2,320 - $2,820

Rent Est.

$499,510  ( +5.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $136.26
  • 8 Days on Market
  • MLS # : 14414379
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,486 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Envious location. This Highland Home sits on 0.33 acre private cul-de-sac lot. Home features private study with glass French doors, hand scraped wood flooring, new carpet, island kitchen with display cabinets, granite counters, large eat in kitchen with full greenbelt views. Open living area with flagstone wood burning fireplace with gas starter. Upstairs boasts 3 spacious secondary bedrooms, 1 ensuite, large bonus and separate media room. Utility room and 3-car tandem garage space. Backyard has fire pit and children’s play structure. Close to McClure elementary school by walk or bus. Ridgecrest has 2 community pools, covered pavilion, playground, dog park and walking trails. Come check out Ridgecrest.

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: Ridgecrest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k406k

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

Neighborhood: Ridgecrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262652

* 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
Mcclure Elementary School Primary Regular 629 40 8
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Mcclure Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 40
8
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,753
Property Tax -$895
Property Insurance -$229
HOA -$53
Property Management Fees -$99
CASH FLOW
-$458

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.

$475,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.16%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,597

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,5504$2,5705$2,695
$2,695
RENT COMPS ANALYSIS
  • 6201 Hawk Hill Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.74
    •  
  • 6800 Orchard Park Drive Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,564 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,564 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.70
    •  
  • 7313 Province Street Mckinney, TX 2
    • 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 2003
    property image
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.75
    •  
  • 6305 Canyon Crest Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2011
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.73
    •  
  • 900 Hidden Springs Court Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2005
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kelly Rudiger
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414379
Last Updated: 08/20/2020
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