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8328 St Clair Drive Mckinney, TX 75071

4 Beds 3 Baths 2,538 sqft Built 2012

$469,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $185.15
  • 5 Days on Market
  • MLS # : 14529285
  • Updated Date : 03/17/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,538 sqft
  • Baths : 2 full , 1 half
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Stunning home with incredible curb appeal. Oversized lot. Study w Closet can be used as 4Th Bedroom. Relax in your own Serene Backyard by the Gunite Pool, Waterfalls and Bubbler! Entertain under the Cedar Gazebo with R-Control Drop Shades and Outdoor Kitchen! Luxurious Upgrades such as Hand Scraped H-wood Floor throughout except Tiles in wet areas. Spacious FR, Gas Fireplace with Custom Glass Screen, Crown Molding in Dining. Large Kitchen, Granite C-tops, Stained Cabinets, 2 Pull Out Spice Racks, Miele Gas Cooktop and Oven, 2 Drawer Dishwasher. Built In Wine Bar w Wine Cooler. Some Plantation Shutters. Private Patio w Composite Deck. Front Flagstone Patio.3 Car Garage w Cedar Insulated doors. New HVAC in 2020.

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

Neighborhood: Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k419k

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

Neighborhood: Stonebridge Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262826

* 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
Wilmeth Elementary School Primary Regular 635 40 9
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney North High School High Regular 2,089 134 8

Wilmeth Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
9
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,632
Property Tax -$885
Property Insurance -$174
HOA -$35
Property Management Fees -$99
CASH FLOW
-$855

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.

$469,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,967

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9704$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 8328 St Clair Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.78
    •  
  • 8305 Shasta Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2006
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 8105 Shasta Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 8120 Shasta Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 7604 Shasta Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jawaher Dabbakeh
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529285
Last Updated: 03/17/2021
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