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7617 Double Diamond Trail Mckinney, TX 75070

4 Beds 3 Baths 2,418 sqft Built 2008

$325,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $134.41
  • 6 Days on Market
  • MLS # : 14486799
  • Updated Date : 12/18/2020 at 13:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Welcome to this beautiful Craig Ranch home! This bright and open home with gorgeous hardwood floors, spacious kitchen with granite counters and stainless steel appliances is perfect for hosting friends and family. The master suite is downstairs with double sinks, soaker tub, separate shower and large closet. The upstairs features a spacious game room, 3 bedrooms and full bathroom. Great storage throughout the home! The backyard has a privacy fence and covered patio to enjoy your evenings. Just outside your front door is a great green space, but also enjoy the pool, parks and trails in the neighborhood. Easy access to highways, new APEX center, shopping, dining and more.

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: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Craig Ranch North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11082171

* 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
Dr. J.m. Ogle Elementary School Primary Regular 650 40 9
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Dr. J.m. Ogle Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 40
9
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,199
Property Tax -$612
Property Insurance -$167
HOA -$47
Property Management Fees -$99
CASH FLOW
-$74

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.

$325,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 7617 Double Diamond Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 7900 Laughing Waters Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3628 Vista Verde Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2006
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 3636 Temecula Creek Trail Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 7604 Loma Alta Trail Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2006
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
PROPERTY LISTING DETAILS
Mila Yakhnis
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 #: 14486799
Last Updated: 12/18/2020
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