Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7708 Weatherford Trace Mckinney, TX 75071

4 Beds 3 Baths 3,337 sqft Built 2017

$499,900

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $149.81
  • 4 Days on Market
  • MLS # : 14513012
  • Updated Date : 02/11/2021 at 19:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,337 sqft
  • Baths : 3 full
Listing Agent

Paragon, Realtors

Listing Agent's Description

Meticulously maintained property in highly sought after Trinity Falls development in McKinney, TX! This property has 4 generous size bedrooms, 3 full baths at 3,337 square feet. Beautiful stone fireplace with natural sunlight set the ambiance of main living space with an open concept that makes a great space for entertaining. Beautiful Master suite with spa like master bath with his and her vanities. Highlighted features are....downstairs home office, large open kitchen, second living area upstairs for kids in addition to a media room for those family movie nights! Home is situated in a Mandatory HOA with access to resort style pool and cabana.

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

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$1,736
Property Tax -$940
Property Insurance -$220
HOA -$100
Property Management Fees -$99
CASH FLOW
-$245

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.

$499,900

PROJECTED PRICE

$2,850

PROJECTED RENT

0.57%

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

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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,870

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,599
1$2,5992$2,6503$2,7504$2,8505$3,100
$3,100
RENT COMPS ANALYSIS
  • 7708 Weatherford Trace Mckinney, TX 4
    • 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.85
    •  
  • 7505 W Fork Lane Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,107 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,107 Sqft ∙ Built 2016
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.84
    •  
  • 7900 Medina Way Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
  • 313 Village Creek Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 709 Winter Creek Drive Mckinney, TX 5
    • 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,509 Sqft ∙ Built 2019
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Stacey Olmstead
Paragon, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513012
Last Updated: 02/11/2021
BESbswy