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6821 Cotton Seed Drive Mckinney, TX 75070

3 Beds 3 Baths 1,832 sqft Built 2008

$295,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $161.03
  • 4 Days on Market
  • MLS # : 14491055
  • Updated Date : 01/07/2021 at 15:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Mckinney

Listing Agent's Description

Beautiful 3 bd, 2.5 ba in Harvest Bend featuring the acclaimed Frisco ISD! Sit & relax on the large, slate covered front porch. As you step inside enjoy the abundance of natural light, gorgeous laminate floors & decorative lighting throughout! Bringing the outside in, kitchen opens up to covered patio and is equipped w granite counters tops and under cabinet lighting! Upstairs, retreat to the large master suite w double sinks & jetted tub, secondary bedrooms are perfect size, and a loft w built in desk perfect for studying! Community park, playground & fishing pond! Close to APEX, PSA complex & Gabe Nesbitt Park! NEW AC, New Ext Paint, Roof 2020, Gutters & Screens, Rain Soft Water Treatment & Water Softener.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Harvest Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Harvest Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9822171

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,025
Property Tax -$556
Property Insurance -$133
HOA -$31
Property Management Fees -$99
CASH FLOW
-$153

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.

$295,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 6821 Cotton Seed Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.92
    •  
  • 4309 Furrow Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2010
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 7009 Bountiful Grove Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2004
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 7020 Dove Tail Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2008
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 6901 Planters Row Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Guy Arnold
Jp And Associates Mckinney
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491055
Last Updated: 01/07/2021
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