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6608 Fishers Island Drive Mckinney, TX 75070

4 Beds 4 Baths 2,658 sqft Built 2021

$619,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $232.88
  • 3 Days on Market
  • MLS # : 14532305
  • Updated Date : 03/13/2021 at 10:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,658 sqft
  • Baths : 3 full , 1 half
Listing Agent

Congress Realty

Listing Agent's Description

This is a gorgeous & elegant East facing BRAND NEW home is available for QUICK MOVE-IN status. This home is located at the prime location under FRISCO ISD in Southern Hills of Craig Ranch which is on the highway 121 w a short commute to Dallas. Enjoy your spacious backyard from your generous outdoor covered patio. Movies, Restaurants, shopping & glossaries within half-mile walking distance. This home has four side brick & stone exterior, a 2-car garage, vaulted-high ceilings, master down, open modern kitchen, upgraded faucets, sink, energy-efficient lighting, sprinkler system, dual pane windows, ceiling fans, utility room, tankless water heater & LED disc lighting. Plus this home comes w many designer upgrades.

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
Bert And Eloise Isbell Elementary School Primary Regular 687 38 10
Billy Vandeventer Middle School Middle Unknown NA
Liberty High School High Regular 2,039 137 9

Bert And Eloise Isbell Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 38
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,150
Property Tax -$1,166
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
-$765

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$619,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.46%

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) 3.00%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,035

INVESTMENT

$166,035

Down Payment
$154,750
Rehab Estimate
$2,000
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,150

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,825

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8303$2,9504$2,9505$2,995
$2,995
RENT COMPS ANALYSIS
  • 6608 Fishers Island Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,646 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,646 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.07
    •  
  • 15717 Twin Cove Drive Frisco, TX 1
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 7062 Brushy Creek Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 2,731 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,731 Sqft ∙ Built 2002
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.08
    •  
  • 6905 Royal View Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2019
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.06
    •  
  • 8504 Pine Valley Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,734 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,734 Sqft ∙ Built 2018
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jared English
Congress Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532305
Last Updated: 03/13/2021
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