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7301 Caladium Mckinney, TX 75070

3 Beds 4 Baths 2,628 sqft Built 2016

$484,900

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $184.51
  • 3 Days on Market
  • MLS # : 14500129
  • Updated Date : 01/15/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,628 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

RARE CORNER GEM in Spicewood at Craig Ranch! 3bed, 3.5 bath, study & 2 living areas. Sunset views year-round. Living room has high ceilings with an open concept, custom drapes, Large windows that gives natural light throughout the house. The kitchen is loaded with upgraded S.S. appliances, huge hand-picked granite island, ceiling height kitchen cabinets with glass inserts and crown molding, Master suite that offers an adjacent study room, sitting area, large master bathroom. This home offers a downstairs guest bedroom with full bath. 75K in upgrades Walking distance to Craig Ranch Fitness center with an Olympic size swimming pool, gym, and tennis courts, Neighborhood features parks, track, dog park, TPC golf

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: 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
Kerr Elementary School Primary Regular 700 43 10
Kerr Elementary School Middle Regular 700 43 10
Lowery Freshman Center High Regular 1,571 104 8

Kerr Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Kerr Elementary School

  • Education Level: Middle
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,684
Property Tax -$913
Property Insurance -$179
HOA -$83
Property Management Fees -$99
CASH FLOW
-$258

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.

$484,900

PROJECTED PRICE

$2,700

PROJECTED RENT

0.56%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$6,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,713

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,6504$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 7301 Caladium Mckinney, TX 4
    • 3 beds 4 baths ∙ 2,628 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,628 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
  • 7409 Collin Mckinney Parkway Mckinney, TX 1
    • 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2016
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 7229 Caladium Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 7204 Caladium Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2019
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.02
    •  
  • 6300 Exeter Avenue Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Greg Hartman
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500129
Last Updated: 01/15/2021
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