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2114 Oleander Way Mckinney, TX 75071

3 Beds 2 Baths 2,042 sqft Built 2000

$265,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $129.77
  • 2 Days on Market
  • MLS # : 14460097
  • Updated Date : 11/14/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,042 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

LOCATION LOCATION FLOOR-PLAN! This darling one story home that sits up on a quiet corner lot is located close to schools, highways, shopping and dining. UPDATED with new paint, fixtures and vinyl wood flooring though-out the entire home. NO CARPET! High ceilings and two large living areas a private study, and 3 bedrooms and 2 bathrooms with lots of closet space make this home perfect for all of the seasons of life! Buyer to get their own survey.

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: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Neighborhood: Wyndfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9432051

* 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
Vega Elementary School Primary Regular 591 45 6
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Vega Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 45
6
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$978
Property Tax -$499
Property Insurance -$145
HOA -$27
Property Management Fees -$99
CASH FLOW
$2

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.

$265,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2114 Oleander Way Mckinney, TX 2
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 2112 Oleander Way Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 2100 Oleander Way Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2000
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 2002 Oleander Way Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 2004 Oleander Way Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1999
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Rafaella Smith
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460097
Last Updated: 11/14/2020
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