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7004 Royal View Drive Mckinney, TX 75070

3 Beds 4 Baths 2,471 sqft Built 2018

$519,900

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $210.40
  • 3 Days on Market
  • MLS # : 14507505
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,471 sqft
  • Baths : 3 full , 1 half
Listing Agent

Hometiva

Listing Agent's Description

Beautiful Garrett floor plan by Ashton Woods in Southern Hills at Craig Ranch. Located on a quiet street, this home has approximately $40,000 in builder upgrades which include quartz countertops throughout, upgraded backsplash & appliances, hardwood flooring throughout downstairs & master, Tankless hot water heater & separate office with built in desk & shelving. Open concept main living area with large fireplace, high ceilings, wall of windows. Gourmet kitchen with large island, quartz, white cabinets, gas cooktop. Private master retreat with modern design features, oversized shower, separate tub & double sinks. Upstairs has additional beds with private baths & game room. Covered private patio. Frisco ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
Bert And Eloise Isbell Elementary School Primary Regular 687 38 10
Billy Vandeventer Middle School Middle Unknown NA
Liberty High School High Regular 2,039 137 9

Bert And Eloise Isbell Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 38
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Liberty High School

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

$467,910$571,890$519,900

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,806
Property Tax -$979
Property Insurance -$170
HOA -$84
Property Management Fees -$99
CASH FLOW
-$298

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.

$519,900

PROJECTED PRICE

$2,840

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,6003$2,6954$2,8405$2,950
$2,950
RENT COMPS ANALYSIS
  • 7004 Royal View Drive Mckinney, TX 4
    • 3 beds 4 baths ∙ 2,471 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,471 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.15
    •  
  • 6400 Aldridge Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2002
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 15717 Twin Cove Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2002
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 7009 Royal View Drive Mckinney, TX 3
    • 3 beds 4 baths ∙ 2,443 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,443 Sqft ∙ Built 2017
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.10
    •  
  • 6905 Royal View Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2019
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Brandon Carrington
Hometiva
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507505
Last Updated: 02/05/2021
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