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6720 Stony Hill Road Mckinney, TX 75072

4 Beds 4 Baths 3,055 sqft Built 2000

$496,990

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $162.68
  • 4 Days on Market
  • MLS # : 14517344
  • Updated Date : 02/12/2021 at 16:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,055 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Stunning Mckinney Front Entry 4 Bedroom home situated on large treed lot with 4 bathrooms, oversized 3 car garage and absolutely amazing Resort style Salt water pool and hotub W large covered Cedar patio featuring built in grill, outdoor TV, SONOS music system, upstairs boasting sound deadening added Music room not part of square footage on Tax rolls, large secondary bedrooms up with jack and Jill Bath and dedicated guest room with ensuite. You will find handscraped hardwoods on the first floor living spaces including stairs, large study with french doors leads you into the livingroom W soaring ceilings, crown moldings, Bright white ceilings, fabulous chef's kitchen with island, SS appliances and gas cooktop

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: Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k474k

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

Neighborhood: Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262859

* 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
 

$447,291$546,689$496,990

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,726
Property Tax -$936
Property Insurance -$198
HOA -$33
Property Management Fees -$99
CASH FLOW
-$283

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.

$496,990

PROJECTED PRICE

$2,710

PROJECTED RENT

0.55%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,452

INVESTMENT

$137,452

Down Payment
$124,248
Rehab Estimate
$5,750
Closing Costs
$7,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,248
Loan Amount $372,743
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,386

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,4004$2,4005$2,710
$2,710
RENT COMPS ANALYSIS
  • 6720 Stony Hill Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,955 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,955 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.92
    •  
  • 2648 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 2812 St Johns Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2005
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.83
    •  
  • 2653 Dunbar Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2002
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 7325 Chadwick Drive Mckinney, TX 4
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 2001
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Bradd Conyne
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517344
Last Updated: 02/12/2021
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