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10312 Bolivar Drive Mckinney, TX 75072

4 Beds 4 Baths 3,487 sqft Built 2009

$460,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $131.92
  • 3 Days on Market
  • MLS # : 14506472
  • Updated Date : 01/30/2021 at 21:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,487 sqft
  • Baths : 3 full , 1 half
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

Beautiful 4 bed 3 and a half bath home nestled in west Mckinney. Oversized back yard and entertainers paradise patio are just a few of the amazing features of this home. Built by American Legend, this home has the perfect layout with the owners suite downstairs and all remaining bedrooms and two full baths up. Oversized pantry and utility rooms make this a gem everyone will want. Has stainless steel appliances in the kitchen with two ovens and gas burner cooktop. Two Story family room gives this home a grand feel as you entertain guests and enjoy the travertine outdoor grilling area. Walking distance to Mooneyham Elementary school and Ash Woods Park.

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: Heights at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k364k

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

Neighborhood: Heights at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262292

* 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
Mooneyham Elementary School Primary Regular 791 44 8
Sam And Ann Roach Middle School Middle Regular 963 68 10
Heritage High School High Regular 1,844 125 9

Mooneyham Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 44
8
GreatSchools Rating

Sam And Ann Roach Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 68
10
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,844
  • # of teachers: 125
9
GreatSchools Rating
 

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

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,598
Property Tax -$866
Property Insurance -$229
HOA -$36
Property Management Fees -$99
CASH FLOW
-$318

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.

$460,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

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 65% 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

0.58

YEARS SAVED

$1,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,676

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5104$2,7505$2,795
$2,795
RENT COMPS ANALYSIS
  • 10312 Bolivar Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.72
    •  
  • 1305 Enchanted Rock Trail Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2009
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 10328 Matador Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2012
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 10301 Matador Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,487 Sqft ∙ Built 2009
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.79
    •  
  • 10700 Capri Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,475 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,475 Sqft ∙ Built 2013
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.80
    •  
PROPERTY LISTING DETAILS
Shane Funk
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506472
Last Updated: 01/30/2021
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