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7105 Wind Row Drive Mckinney, TX 75070

3 Beds 2 Baths 1,340 sqft Built 2004

$249,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $185.82
  • 2 Days on Market
  • MLS # : 14472021
  • Updated Date : 11/21/2020 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Frisco Schools! This charming and nicely updated home is decked out in today's designer colors and styles. Beautiful eat-in white and gray kitchen with granite CT, SS appliances, stylish backsplash. All bedrooms located on 2nd floor. Primary bedroom with granite CT in bath and huge closet. Large fenced backyard & 2-car tandem garage. Additional features incl: luxury vinyl flooring on 1st floor, HardiePlank siding, new carpet (2020), new furnace (2019), new roof (2019), interior paint (2020). Excellent location with easy access to SH 121, shopping, dining, and more. HOA Maintained Private Park & Pond with Fishing & Walking Trail, close proximity to schools. Super clean and move-in ready.

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: 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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$919
Property Tax -$469
Property Insurance -$105
HOA -$30
Property Management Fees -$99
CASH FLOW
-$122

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.

$249,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 7105 Wind Row Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
  • 6925 Planters Row Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2006
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 7120 Planters Row Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2005
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
  • 7125 Planters Row Drive Mckinney, TX 4
    • 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2004
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
  • 4608 Wheat Field Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
PROPERTY LISTING DETAILS
Lisa Birdsong
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472021
Last Updated: 11/21/2020
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