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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $135.26
- 2 Days on Market
- MLS # : 14519869
- Updated Date : 02/20/2021 at 13:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,218 sqft
- Baths : 2 full , 1 half
Listing Agent
Newgen Properties Llc
Listing Agent's Description
Beautiful modern home with beautiful wood flooring throughout most of the home. Great open floorplan with lots of windows for natural light. Modern Kitchen with upgraded countertops, tons of cabinets and storage and large walk in pantry. Master bedroom has an oversized walk in closet. Great backyard with extended patio and outdoor kitchen area. Located in McKinney city limits and exemplary Frisco ISD. Close to shopping, dining and entertainment.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harvest Bend
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,950 |
| EXPENSES | Loan Payment | -$1,042 |
| Property Tax | -$565 | |
| Property Insurance | -$155 | |
| HOA | -$28 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$61
|
||
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.
$300,000
PROJECTED PRICE
$1,950
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,042
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
5.5
YEARS SAVED
$18,078
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,950
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,946
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
7121 Cotton Seed Drive Mckinney, TX 4
- 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,950
- $0.88
-
6908 Cotton Seed Drive Mckinney, TX 1
- 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2007
LEASED 05/04/20- Rent
- Rent Per SQFT
- $1,850
- $0.81
-
6820 Cotton Seed Drive Mckinney, TX 2
- 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2007
LEASED 09/03/20- Rent
- Rent Per SQFT
- $1,900
- $0.83
-
7909 Blacktail Trail Mckinney, TX 3
- 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2003
LEASED 01/01/21- Rent
- Rent Per SQFT
- $1,900
- $0.89
-
7117 Cotton Seed Drive Mckinney, TX 5
- 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2007
LEASED 03/03/20- Rent
- Rent Per SQFT
- $2,200
- $0.98
PROPERTY LISTING DETAILS
Newgen Properties Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14519869
Last Updated: 02/20/2021
