Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6901 Planters Row Drive Mckinney, TX 75070

3 Beds 3 Baths 1,996 sqft Built 2006

INVESTimate

$285,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$312,161  ( +9.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $142.79
  • 5 Days on Market
  • MLS # : 14404074
  • Updated Date : 08/22/2020 at 11:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,996 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

Brand new carpet and fresh paint welcome you into this light filled home. First floor features living area and study. Wood floors in the entry, study and kitchen. Second floor has 3 bedrooms. Spacious yard has it all.....a patio that is both open and covered and lots of grassy space. Or you can relax on the covered front porch. Fence has been recently stained. 2018 AC. Refrigerator is included.

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: 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,052
Property Tax -$550
Property Insurance -$143
HOA -$30
Property Management Fees -$99
CASH FLOW
-$123

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.

$285,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.53%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,7954$1,8505$2,300
$2,300
RENT COMPS ANALYSIS
  • 6901 Planters Row Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 6908 Planters Row Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.87
    •  
  • 7020 Dove Tail Drive Mckinney, TX 3
    • 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
    •  
  • 3917 Pitchstone Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2008
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 6604 Lepant Lane Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2020
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Mani Raveendran
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14404074
Last Updated: 08/22/2020
BESbswy