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7801 Medina Way Mckinney, TX 75071

5 Beds 3 Baths 3,052 sqft Built 2017

$575,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $188.40
  • 3 Days on Market
  • MLS # : 14530642
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,052 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

Luxurious One Story 5 Bedroom 3 Full Bath Home with Custom Covered Patio, Pool, Raised Bed Garden, Fire Pit, Sunning Areas on an Oversized Homesite. View the Coffered Ceilings in the Family Room, Kitchen and Formal Dining. Open Kitchen with Huge Island, Built in Shelving and Butlers Pantry with Huge are for Breakfast Nook. Private Master with all other Bedrooms across the home. Just a few Blocks from the Large Amenity Center. Extra Landscaping, Rock Walk Ways and more. You have to see it to appreciate all this Home has to offer. Meticulous owners make this home look likes it's never been lived in.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,997
Property Tax -$1,083
Property Insurance -$204
HOA -$100
Property Management Fees -$99
CASH FLOW
-$883

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.

$575,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.45%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,815

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,7504$2,9005$3,250
$3,250
RENT COMPS ANALYSIS
  • 7801 Medina Way Mckinney, TX 1
    • 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
  • 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
    •  
  • 7812 Wichita Falls Boulevard Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 1005 Benbrook Trail Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,126 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,126 Sqft ∙ Built 2016
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Chris Spear
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530642
Last Updated: 03/19/2021
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