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

7901 Cloudcroft Court Mckinney, TX 75070

3 Beds 3 Baths 3,317 sqft Built 2008

$479,900

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $144.68
  • 2 Days on Market
  • MLS # : 14476016
  • Updated Date : 01/16/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,317 sqft
  • Baths : 3 full
Listing Agent

Robert Elliott And Associates

Listing Agent's Description

Incredible 1.5 story home on a HUGE cul-de-sac lot. Zoned to Frisco ISD. Upgrades include hardwood floors, fresh interior and exterior paint, new roof (2019). Private study. Formal dining. Large family room opens to the kitchen & boasts elegant wood floors, fireplace w gas logs & built-in entertainment center. Master suite includes bay windows & luxurious master bath w jetted tub, lrg shower & walk-in closet. Bonus room in front of the master could make a perfect 2nd study or play area. Huge game rm up with full bath & walk-in closet, could be a 4th bedroom! Good size secondary bedrooms. Large pool size backyard w board-on-board fence. Community amenities include pool, hike & bike trail, park etc.

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: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k461k

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

Neighborhood: Aspendale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262791

* 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
Joyce Kelly Comstock Elementary School Primary Unknown 626 36 NA
Scoggins Middle School Middle Regular 790 57 9
Independence High School High Unknown 1,161 102 9

Joyce Kelly Comstock Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 36
NA
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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,667
Property Tax -$904
Property Insurance -$219
HOA -$70
Property Management Fees -$99
CASH FLOW
-$269

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.

$479,900

PROJECTED PRICE

$2,690

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,745

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,6904$2,6955$3,150
$3,150
RENT COMPS ANALYSIS
  • 7901 Cloudcroft Court Mckinney, TX 3
    • 3 beds 3 baths ∙ 3,317 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,317 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.81
    •  
  • 3700 Blanco Creek Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2007
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 8809 Tatenhill Place Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 2015
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 7616 Powder Horn Lane Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.80
    •  
  • 6816 Gallatin Street Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,486 Sqft ∙ Built 2016
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeff Cheney
Robert Elliott And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476016
Last Updated: 01/16/2021
BESbswy