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701 Donelson Drive Mckinney, TX 75071

6 Beds 5 Baths 4,072 sqft Built 2011

$625,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $153.49
  • 3 Days on Market
  • MLS # : 14498377
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,072 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

SPECTACULAR 6 bedroom home with backyard paradise! Luxurious upgrades including handsome hardwoods sweeping through the main floor, designer greyish color palette, chefs kitchen with gleaming high level granite, rich alder cabinets, double ovens & gas range, oversized owners retreat with spa like bath with attached workout room! Main floor private guest suite, study & dining room! Up the wood staircase to the 2nd floor, you’ll find 4 bedrooms, game room with dry bar & media room! HUGE oversized lot with 3 car garage, tankless water heater, water treatment system & radiant barrier! Cool off in your dreamy backyard with sparkling oversized modern pool & pergolas. Generous grassy area for 4 legged family members!

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: Shiloh Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k470k

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

Neighborhood: Shiloh Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262879

* 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
Wilmeth Elementary School Primary Regular 635 40 9
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Wilmeth Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
9
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$2,171
Property Tax -$1,177
Property Insurance -$262
HOA -$35
Property Management Fees -$99
CASH FLOW
-$294

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.

$625,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,044

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,9903$3,0004$3,1005$3,450
$3,450
RENT COMPS ANALYSIS
  • 701 Donelson Drive Mckinney, TX 5
    • 6 beds 5 baths ∙ 4,072 Sqft ∙ Built 2011 6 beds 5 baths ∙ 4,072 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.85
    •  
  • 312 Wentworth Drive Mckinney, TX 1
    • 5 beds 4 baths ∙ 4,118 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,118 Sqft ∙ Built 2004
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.68
    •  
  • 1100 Hall Meadow Lane Mckinney, TX 2
    • 5 beds 4 baths ∙ 4,019 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,019 Sqft ∙ Built 2007
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.74
    •  
  • 832 Hidden Springs Court Mckinney, TX 3
    • 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,931 Sqft ∙ Built 2007
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
  • 7900 Linksview Drive Mckinney, TX 4
    • 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Brigitte Robertson
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498377
Last Updated: 01/15/2021
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