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7913 Goldfinch Drive Mckinney, TX 75072

3 Beds 2 Baths 1,956 sqft Built 2000

$319,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $163.55
  • 3 Days on Market
  • MLS # : 14521924
  • Updated Date : 02/27/2021 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Desirable, Stonebridge Ranch community, well-loved, one-story home is ready for you to begin your next chapter in life. Perfect home for the in demand, home office space! Beautiful hardwood floors, fascinating plantation shutters and beautiful built-ins are just a few of the details this adorable home features. Spacious master bedroom that leads into your incredible master bathroom with his and her vanities, walk in closets and soaker garden tub. Enjoy this covered patio area that’s great for grilling and conversation with relaxing views of your spacious back yard, BIG enough for a pool! You will even have your own, fruitful, lemon tree!

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: Eagle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Eagle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Bennett Elementary School Primary Regular 491 31 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Bennett Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 31
10
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,111
Property Tax -$603
Property Insurance -$140
HOA -$70
Property Management Fees -$99
CASH FLOW
$7

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$319,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7953$1,7954$1,7955$2,030
$2,030
RENT COMPS ANALYSIS
  • 7913 Goldfinch Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.04
    •  
  • 8200 Ontario Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2003
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.96
    •  
  • 2508 Nueces Cove Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 2712 Lynnwood Lane Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 7805 Owl Creek Lane Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2001
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ashly Westbrook
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521924
Last Updated: 02/27/2021
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