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8913 Cedar Basin Drive Mckinney, TX 75071

3 Beds 4 Baths 2,613 sqft Built 2020

$454,963

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $174.12
  • 7 Days on Market
  • MLS # : 14471982
  • Updated Date : 11/16/2020 at 09:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,613 sqft
  • Baths : 3 full , 1 half
Listing Agent

Move Up America

Listing Agent's Description

Beautiful 1 story home with a wide entry with included crown molding, 3 bedrooms, with a study and a game room. Huge kitchen island, lots of windows, fireplace inside as well as on the back patio. The front of the home overlooks greenbelt and ponds across the road. Don't miss this one. Will be ready in Feb.

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

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
 

$409,467$500,459$454,963

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,679
Property Tax -$857
Property Insurance -$178
HOA -$100
Property Management Fees -$99
CASH FLOW
-$413

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.

$454,963

PROJECTED PRICE

$2,500

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$122,565

INVESTMENT

$122,565

Down Payment
$113,741
Rehab Estimate
$2,000
Closing Costs
$6,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,741
Loan Amount $341,222
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5004$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 8913 Cedar Basin Drive Mckinney, TX 3
    • 3 beds 4 baths ∙ 2,613 Sqft ∙ Built 2020 3 beds 4 baths ∙ 2,613 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 7932 Krause Springs Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 8628 Backwater Bay Cove Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2018
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 8025 Deep Water Cove Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2017
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.95
    •  
  • 7909 Fossil Creek Trail Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2016
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Daisy Lopez
Move Up America
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471982
Last Updated: 11/16/2020
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