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7721 Rockdale Road Mckinney, TX 75071

4 Beds 4 Baths 2,919 sqft Built 2012

$475,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $162.73
  • 4 Days on Market
  • MLS # : 14468155
  • Updated Date : 11/13/2020 at 23:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,919 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

BEST AND FINAL SAT 8PM Amazing 4 Bed Home In Wren Creek With A Backyard Oasis. The beautiful custom chorine pool is 12,000 gallons, app controlled with an elevated hot tub. A spacious outdoor living area, features a cool touch surface, outdoor grill, and maintenance free turf. Inside a contemporary design with neutral walls, high-end carpets, are offset by beautiful dark wood floors and comfortable open floor plan. The Chefs Kitchen over looks the living area and windows open to the backyard. The kitchen boasts SS appliances, double oven, convection microwave, high end granite, walk-in pantry and large single well sink. Buyers will appreciate the large owners suite, guest suite and office downstairs.

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

Neighborhood: Wren Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k387k

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

Neighborhood: Wren Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262580

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,753
Property Tax -$895
Property Insurance -$196
HOA -$62
Property Management Fees -$99
CASH FLOW
-$354

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.

$475,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,634

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,245
1$2,2452$2,6003$2,6504$2,7505$2,750
$2,750
RENT COMPS ANALYSIS
  • 7721 Rockdale Road Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,919 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,919 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.91
    •  
  • 1404 Union Court Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.80
    •  
  • 1612 Country Walk Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2005
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 7716 Harvest Hill Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 2011
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
  • 1309 Patriotic Lane Mckinney, TX 5
    • 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Micah Young
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468155
Last Updated: 11/13/2020
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