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713 Golden Nugget Drive Mckinney, TX 75069

3 Beds 2 Baths 1,740 sqft Built 2009

$304,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $174.71
  • 2 Days on Market
  • MLS # : 14515546
  • Updated Date : 03/06/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

WONDERFUL single story home in The Greens of McKinney! Nice drive up appeal. Open floor plan provides plenty of room for entertaining family and friends. Master is located on the back; master bath has dual sinks, separate shower, garden tub, large walk-in-closet. Nice sized secondary bedrooms are split from the master. Enjoy the spacious outdoor 15'x9' covered patio, with an open area that extends 33'x7' along the back of the house, and then 18'x6' on the side just past the gate. Very nice! Under counter cabinet lights in the kitchen; walk-in pantry. Recent interior paint and new carpet. Roof has a radiant barrier. Zurn Quick-Port Manifold for water control. Must-see.

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: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k347k

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

Neighborhood: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Malvern Elementary School Primary Regular 540 42 3
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Malvern Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 42
3
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$273,600$334,400$304,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,056
Property Tax -$573
Property Insurance -$128
HOA -$33
Property Management Fees -$99
CASH FLOW
-$89

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.

$304,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,310

INVESTMENT

$86,310

Down Payment
$76,000
Rehab Estimate
$5,750
Closing Costs
$4,560

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,056

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,000
Loan Amount $228,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 713 Golden Nugget Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 717 Hardwood Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2006
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 2929 Dover Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.02
    •  
  • 2824 Dover Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1999
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 2917 Dover Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1997
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mark Phillips
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515546
Last Updated: 03/06/2021
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