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6800 Humboldt Place Mckinney, TX 75070

3 Beds 2 Baths 2,592 sqft Built 2015

$515,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $198.69
  • 4 Days on Market
  • MLS # : 14462215
  • Updated Date : 10/31/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,592 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

Stunning 1 story home with sparkling pool & spa on a 1 third acre treed lot in popular Stone Hollow! Open & bright floor plan features extensive hardwood floors & solid core doors. Amazing drive up with cedar & stone elevation & perfectly landscaped. Private study off the entry rotunda has French doors & currently used as a media room. Wow island kitchen has high level granite, stainless steel appliances, gas cook top & custom cabinetry. Breakfast area has custom built-ins & amazing views. Spacious family rm with stone FP. Huge private master ste & luxurious bath. Backyard oasis has pool & spa, covered patio, ext decking & large grassy area. Premium lot & location! Oversized garage! Rare find! Frisco Schools!

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: Stone Hollow

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

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

Neighborhood: Stone Hollow

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Joyce Kelly Comstock Elementary School Primary Unknown 626 36 NA
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Joyce Kelly Comstock Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 36
NA
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 57
9
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 1,161
  • # of teachers: 102
9
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,900
Property Tax -$970
Property Insurance -$177
HOA -$59
Property Management Fees -$99
CASH FLOW
-$565

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.

$515,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,0984$2,3755$2,640
$2,640
RENT COMPS ANALYSIS
  • 6800 Humboldt Place Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,592 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,592 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.02
    •  
  • 6917 Columbia Falls Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2003
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 3608 Maddock Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2001
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 5809 Lodgestone Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,098
    • $0.79
    •  
  • 6900 Columbia Falls Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2003
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.91
    •  
PROPERTY LISTING DETAILS
Ronda Leto
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462215
Last Updated: 10/31/2020
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