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827 Hills Creek Drive Mckinney, TX 75072

5 Beds 5 Baths 3,921 sqft Built 1994

$627,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $159.91
  • 3 Days on Market
  • MLS # : 14477815
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,921 sqft
  • Baths : 5 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Stunning Home with 3 Car Garage, Pool & Spa located on over a half-acre lot in sought after Stonebridge Ranch. Grand entry with soaring ceilings, plantation shutters & view of the outdoor living. 5 bedroom, 5 bathroom home with master suite & second guest bedroom on the main floor. Large kitchen open to the breakfast room & family room. A backyard oasis with plenty of room for entertaining under the patio, laying out by the pool or relaxing in the spa. Recent updates including, master bath countertops, fixtures, designer paint, new carpet upstairs, & new windows. Amenities include Beach Club Pool, Aquatic Pool, Tennis & Basketball Courts, Hiking & Bike Trails. Two Private Golf Courses with dining & amenities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Hills Creek at Stonebridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Hills Creek at Stonebridge

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
Glen Oaks Elementary School Primary Regular 481 30 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Glen Oaks Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 30
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
 

$564,300$689,700$627,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,313
Property Tax -$1,181
Property Insurance -$254
HOA -$67
Property Management Fees -$99
CASH FLOW
-$954

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.

$627,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,905

INVESTMENT

$171,905

Down Payment
$156,750
Rehab Estimate
$5,750
Closing Costs
$9,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,750
Loan Amount $470,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,049

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9603$3,1504$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 827 Hills Creek Drive Mckinney, TX 2
    • 5 beds 5 baths ∙ 3,921 Sqft ∙ Built 1994 5 beds 5 baths ∙ 3,921 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $0.75
    •  
  • 2308 Therrell Way Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 2003
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.66
    •  
  • 912 Sonoma Drive Mckinney, TX 3
    • 5 beds 4 baths ∙ 4,078 Sqft ∙ Built 2011 5 beds 4 baths ∙ 4,078 Sqft ∙ Built 2011
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.77
    •  
  • 406 Pintail Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 4,093 Sqft ∙ Built 1999 4 beds 4 baths ∙ 4,093 Sqft ∙ Built 1999
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.81
    •  
  • 910 Parkwood Court Mckinney, TX 5
    • 4 beds 4 baths ∙ 4,012 Sqft ∙ Built 1994 4 beds 4 baths ∙ 4,012 Sqft ∙ Built 1994
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Carolyn Michael
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477815
Last Updated: 12/05/2020
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