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8613 Lake Arrowhead Trail Mckinney, TX 75071

4 Beds 4 Baths 2,750 sqft Built 2019

$460,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $167.27
  • 3 Days on Market
  • MLS # : 14496084
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,750 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Gorgeous home in a master-planned resort-style community. Still 6 months left on the builder bumper-to-bumper warranty. So many amenities and events in this community. Home features 4 bedrooms, 3.1 baths, 2 dining areas, game room and large backyard. Amazing mahogany entry door, designer lighting throughout, ceiling fans in every room, extended patio, designer wall features, wifi appliances, window tint on front windows and solar screens on rear windows adds to the already exemplary energy efficiency. Upgraded landscaping. Mounted ceiling garage storage, dog door and ring doorbell stay!

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

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

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

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

$414,000$506,000$460,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,598
Property Tax -$866
Property Insurance -$186
HOA -$100
Property Management Fees -$99
CASH FLOW
-$159

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.

$460,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

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

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,681

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,6904$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 8613 Lake Arrowhead Trail Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.98
    •  
  • 8628 Backwater Bay Cove Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 8025 Deep Water Cove Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.95
    •  
  • 7401 Clear Rapids Drive Mckinney, TX 4
    • 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 816 Heron Creek Pass Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rachel Bader
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496084
Last Updated: 01/08/2021
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