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8904 Roseway Trail Mckinney, TX 75071

4 Beds 4 Baths 2,986 sqft Built 2020

$546,660

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $183.07
  • 3 Days on Market
  • MLS # : 14463729
  • Updated Date : 11/01/2020 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,986 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Award winning Drees Custom Home the Brynlee II is a simple and functional design that puts the essentials at your fingertips. The open layout of the kitchen, dining, and family room forms the heart of this home. The large kitchen island is a great gathering spot while fixing dinner or entertaining. Enjoy the extra space of media room to use for family and fun.

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

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
 

$491,994$601,326$546,660

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,017
Property Tax -$1,030
Property Insurance -$200
HOA -$100
Property Management Fees -$99
CASH FLOW
-$665

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.

$546,660

PROJECTED PRICE

$2,780

PROJECTED RENT

0.51%

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,865

INVESTMENT

$146,865

Down Payment
$136,665
Rehab Estimate
$2,000
Closing Costs
$8,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,017

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,665
Loan Amount $409,995
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,770

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,7804$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 8904 Roseway Trail Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,986 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,986 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.93
    •  
  • 7401 Clear Rapids Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2018
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 313 Village Creek Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2018
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 208 Village Creek Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2016
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.91
    •  
  • 7812 Wichita Falls Boulevard Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,127 Sqft ∙ Built 2017
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jeanie Douthitt
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 #: 14463729
Last Updated: 11/01/2020
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