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

6937 Willow Crest Drive Mckinney, TX 75070

4 Beds 2 Baths 1,975 sqft Built 2003

$308,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $155.95
  • 2 Days on Market
  • MLS # : 14512234
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,975 sqft
  • Baths : 2 full
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

Lots of updates! Newer laminate floors throughout. Carpet only in bedrooms. Open floor plan with newly refaced fireplace. SS appliances in kitchen including a brand new high end convection microwave. Newer Trane AC and Furnace, updated master shower, and more. Split floorplan, and just a wonderful home all around. 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: Wynngate

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Wynngate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10242171

* 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
Independence High School High Unknown 1,161 102 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

Independence High School

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

$277,200$338,800$308,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,070
Property Tax -$580
Property Insurance -$141
HOA -$42
Property Management Fees -$99
CASH FLOW
-$152

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.

$308,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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$8.0k

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$87,370

INVESTMENT

$87,370

Down Payment
$77,000
Rehab Estimate
$5,750
Closing Costs
$4,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,000
Loan Amount $231,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,7953$1,8504$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 6937 Willow Crest Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.90
    •  
  • 6921 Red Bluff Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 3609 Willow Springs Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2003
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 6908 Whitestone Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 6936 Red Bluff Drive Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Amy Arnold
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512234
Last Updated: 02/13/2021
BESbswy