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7701 Caddo Cove Mckinney, TX 75071

4 Beds 4 Baths 3,653 sqft Built 2018

$535,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $146.45
  • 5 Days on Market
  • MLS # : 14469404
  • Updated Date : 11/11/2020 at 11:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,653 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Stunning home in McKinney ISD! Study with french doors. Soaring ceilings. Wood-look tile throughout living, kitchen, study, and dining. Sculpted carpet in all bedrooms and living upstairs. Plantation shutters throughout home. Open floorplan great for entertaining. Huge kitchen with granite, gorgeous cabinets with lighting, dbl ovens, 5 burner gas cooktop, micro, dishwasher, huge pantry under stairs and island with breakfast bar. Large dining to fit any size table. Living space with gas log fireplace overlooks lrg backyard, patio plus Pergola patio with stone flatwork. Master suite downstairs with sep shower, garden tub and spacious closet. Media Rm and 2nd living upstairs with 3 bdrms and 2 baths. 3 car garage.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

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

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,974
Property Tax -$1,008
Property Insurance -$238
HOA -$100
Property Management Fees -$99
CASH FLOW
-$529

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.

$535,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,959

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9503$3,100
$3,100
RENT COMPS ANALYSIS
  • 7701 Caddo Cove Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,653 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,653 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.79
    •  
  • 1108 Bull Creek Drive Mckinney, TX 2
    • 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2018
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.74
    •  
  • 709 Winter Creek Drive Mckinney, TX 3
    • 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Brooke S Hunt
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469404
Last Updated: 11/11/2020
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