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7917 Caddo Cove Mckinney, TX 75071

4 Beds 4 Baths 3,305 sqft Built 2017

$519,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $157.31
  • 3 Days on Market
  • MLS # : 14502428
  • Updated Date : 01/30/2021 at 20:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,305 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Don't wait for new construction! Beautiful move-in ready home is loaded with upgrades! Gorgeous interior with rich, wide plank wood flooring, granite countertops, soaring ceilings & archways & lots of windows flooding the home with natural light! Spacious living rm has a cozy stone fireplace & super high ceilings. The amazing kitchen is white with a huge granite island with sink, a separate breakfast area, ss appliances & a gas range. Upstairs is a huge media rm with space for 20 people! Lots of storage space throughout & a 3-car garage! Regulate the temperature in the home from anywhere using your phone via the Nest app. Big backyard with plenty of room for a pool & more! Great neighborhood amenities!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$467,910$571,890$519,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,806
Property Tax -$979
Property Insurance -$218
HOA -$100
Property Management Fees -$99
CASH FLOW
-$542

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.

$519,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,999

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,7503$2,9004$2,9505$3,100
$3,100
RENT COMPS ANALYSIS
  • 7917 Caddo Cove Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.80
    •  
  • 313 Village Creek Drive Mckinney, TX 2
    • 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 3
    • 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
    •  
  • 7916 Wichita Falls Boulevard Mckinney, TX 4
    • 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.92
    •  
  • 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
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502428
Last Updated: 01/30/2021
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