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8405 Persimmon Court Mckinney, TX 75072

5 Beds 4 Baths 3,726 sqft Built 2002

$619,900

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $166.37
  • 2 Days on Market
  • MLS # : 14500962
  • Updated Date : 01/16/2021 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,726 sqft
  • Baths : 3 full , 1 half
Listing Agent

Michael L. Seifert Real Estate

Listing Agent's Description

5-bedroom;3.5-bath;3-car garage stunner in Hickory Hill Subdivision. Oversized cul-de-sac lot within the Westridge Golf Club community. Hand-scaped hardwood floors downstairs and in upstairs media room, large 1st floor master bedroom with updated master bath including glass frameless shower and custom closet system, updated kitchen with center island with gas-cook top and walk-in pantry. Loft area with built-in study area and media room with built-in wet bar. Outdoor living at it’s finest with a swimming pool, attached spa, waterfall, diving rocks, built-in basketball goal, covered outdoor cooking station with refrigerator, fireplace, wired for TV and audio, and pergola. Backyard has 2 large sideyard spaces.

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: Hickory Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k451k

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

Neighborhood: Hickory Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262733

* 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
Eddins Elementary School Primary Regular 469 31 8
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Eddins Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 31
8
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
 

$557,910$681,890$619,900

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,153
Property Tax -$1,168
Property Insurance -$242
HOA -$67
Property Management Fees -$99
CASH FLOW
-$879

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.

$619,900

PROJECTED PRICE

$2,850

PROJECTED RENT

0.46%

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$170,024

INVESTMENT

$170,024

Down Payment
$154,975
Rehab Estimate
$5,750
Closing Costs
$9,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,975
Loan Amount $464,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,813

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6953$2,7504$2,8505$3,100
$3,100
RENT COMPS ANALYSIS
  • 8405 Persimmon Court Mckinney, TX 4
    • 5 beds 4 baths ∙ 3,726 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,726 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.76
    •  
  • 8804 Bear Creek Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2003
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
  • 15994 Trail Glen Drive Frisco, TX 2
    • 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 2012
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.70
    •  
  • 8904 Brook Hollow Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2006
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 7900 Linksview Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,847 Sqft ∙ Built 2001
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Michael Seifert
Michael L. Seifert Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500962
Last Updated: 01/16/2021
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