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6836 Stonecrop Drive Mckinney, TX 75070

5 Beds 3 Baths 2,679 sqft Built 2020

INVESTimate

$433,520

List Price

$2,590

$2,340 - $2,840

Rent Est.

$465,340  ( +7.34%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $161.82
  • 6 Days on Market
  • MLS # : 14417246
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,679 sqft
  • Baths : 3 full
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

NORMANDY HOMES SADDLEBROOK floor plan. This home is a must see! Open concept floor plan with 2 bedrooms downstairs and 3 upstairs. Lots of upgrades included in this home, too! Come tour today! Liberty Hills is a great place to call home. Community Pool in Watters Branch right next door. Quick Access to 121 & 75. Frisco ISD!

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: 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
Edris Elliott Elementary School Primary Regular 536 33 6
Scoggins Middle School Middle Regular 790 57 9
Liberty High School High Regular 2,039 137 9

Edris Elliott Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
6
GreatSchools Rating

Scoggins Middle School

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

Liberty High School

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

$390,168$476,872$433,520

PURCHASE PRICE

$2,331$2,849$2,590

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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 $2,590
EXPENSES Loan Payment -$1,600
Property Tax -$805
Property Insurance -$182
HOA -$65
Property Management Fees -$99
CASH FLOW
-$161

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.

$433,520

PROJECTED PRICE

$2,590

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.34%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,883

INVESTMENT

$116,883

Down Payment
$108,380
Rehab Estimate
$2,000
Closing Costs
$6,503

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,600

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,380
Loan Amount $325,140
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$12,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,545

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5903$2,5954$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 6836 Stonecrop Drive Mckinney, TX 2
    • 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.97
    •  
  • 5201 Basham Lane Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,738 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,738 Sqft ∙ Built 2017
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 5412 Arapaho Road Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 2017
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 7204 Caladium Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2019
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.02
    •  
  • 5408 Tuscarora Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2019
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.97
    •  
PROPERTY LISTING DETAILS
Carole Campbell
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417246
Last Updated: 08/21/2020
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