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10529 Bolivar Drive Mckinney, TX 75072

3 Beds 3 Baths 2,144 sqft Built 2010

INVESTimate

$319,900

List Price

$1,800

$1,620 - $1,980

Rent Est.

$327,898  ( +2.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $149.21
  • 6 Days on Market
  • MLS # : 14417979
  • Updated Date : 08/23/2020 at 18:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent

Askins Realty Group

Listing Agent's Description

Wonderful West McKinney Location Convenient to Frisco, McKinney, Allen, and Plano. Pride of ownership shows in this well-maintained, North Facing, and beautifully landscaped Horizon home zoned for the Frisco ISD. Highland Homes Transitioned in Late 2007 To Energy Efficient Home Designs that Afford Greater Occupant Comfort and lower Utility Bills which are included in this home. Energy Star Features Includes Radiant Barriers, 14 SEER AC, and Vinyl Windows. Ask for the Last 12 Months of Utilities. The cozy floorplan is surprisingly spacious with all Bedrooms Plus 2 Baths up and a Powder Bath Down. Backyard Covered, Stained Fence, and Beautiful Yard are part of the Charm this Specific Home offers. New Roof.

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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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,180
Property Tax -$603
Property Insurance -$151
HOA -$34
Property Management Fees -$99
CASH FLOW
-$267

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.

$319,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 10529 Bolivar Drive Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 10513 Bolivar Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 10616 Colfax Drive Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 10640 Colfax Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 10525 Flat Creek Trail Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2011
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Michael Askins
Askins Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417979
Last Updated: 08/23/2020
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