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7612 Shasta Drive Mckinney, TX 75071

4 Beds 3 Baths 2,441 sqft Built 2005

$369,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $151.17
  • 3 Days on Market
  • MLS # : 14539658
  • Updated Date : 03/26/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,441 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Beautiful 4 BDRM, 2.1 Bath Craftsmans style Home with 2 Covered patio's and a large yard for your Pool , Great open and Bright floor plan with Vaulted Ceilings , Large Kitchen with a large serving area for your Entertaining , There is also a large room that can be used as a Dining Area or be used as a Flex room. Master has a Private Patio,seperate shower and a Garden Tub for your Relaxation. Beautiful Staircase leading to the Upstairs Game Room and Three Secondary Bedrooms . Newer BOB Fencing, Freshly Painted , Seller may need a Leaseback till May 14th

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Virginia Parklands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Virginia Parklands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11112171

* 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
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,282
Property Tax -$695
Property Insurance -$168
HOA -$47
Property Management Fees -$99
CASH FLOW
-$271

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.

$369,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,038

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$2,0204$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 7612 Shasta Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.83
    •  
  • 7716 Uvalde Way Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 8105 Shasta Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 7604 Shasta Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.80
    •  
  • 109 Falcon Creek Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1994
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ron Morgan
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539658
Last Updated: 03/26/2021
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