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8408 Shoreacres Drive Mckinney, TX 75070

4 Beds 4 Baths 3,062 sqft Built 2021

$615,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $200.85
  • 4 Days on Market
  • MLS # : 14496051
  • Updated Date : 01/07/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,062 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14496051 - Built by Ashton Woods Homes - April completion! ~ New Ashton Woods home only 8 miles to Legacy west in Frisco ISD at Southern Hills in Craig Ranch with short commute to Dallas. This brick and stone, 2-car garage home features several upscale finishes throughout including hardwood flooring, Quartz countertops, moen faucets, 10' ceilings, tankless hot water heate. Kitchen with a eat-in bar top island, Energy Star Whirlpool gas stainless steel appliances, pot and pan drawers, a pull-out waste basket, flat panel white cabinets. Master suite features Quartz countertop vanities, a freestanding tub, frameless glass shower with seat.TWO walk-in closets and a door to the utility room!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: McKinney

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k356k

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

Neighborhood: McKinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262358

* 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
Bert And Eloise Isbell Elementary School Primary Regular 687 38 10
Billy Vandeventer Middle School Middle Unknown 1,034 69 NA
Liberty High School High Regular 2,039 137 9

Bert And Eloise Isbell Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 38
10
GreatSchools Rating

Billy Vandeventer Middle School

  • Education Level: Middle
  • # of students: 1,034
  • # of teachers: 69
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 137
9
GreatSchools Rating
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,136
Property Tax -$1,158
Property Insurance -$204
HOA -$100
Property Management Fees -$99
CASH FLOW
-$698

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$615,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 3.00%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,975

INVESTMENT

$164,975

Down Payment
$153,750
Rehab Estimate
$2,000
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,993

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,0004$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 8408 Shoreacres Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,062 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,062 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
  • 6804 Royal View Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.00
    •  
  • 6816 Royal Liverpool Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2017
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.97
    •  
  • 6908 Royal Liverpool Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2017
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
  • 7008 Royal Liverpool Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 2018
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496051
Last Updated: 01/07/2021
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