Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2124 Green Hill Drive Mckinney, TX 75072

4 Beds 2 Baths 2,512 sqft Built 1991

$369,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $146.89
  • 2 Days on Market
  • MLS # : 14480678
  • Updated Date : 12/05/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,512 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature Properties

Listing Agent's Description

Fabulous home in the convenient location of Stonebridge. Welcome yourself inside to see a beautiful open living space with tall ceilings and great natural light. Engineered hardwood floors in living, dining, and entry. Good sized kitchen with plenty of countertop space and cabinetry storage. An eat-in breakfast area, stainless appliances, and second living space. Remodeled master bath has a beautiful tiled shower with frameless glass, jetted tub, separate sinks and a large walk-in closet. Single story floor plan with separation amongst the bedrooms. One room with double doors is perfect for an office. Lovely backyard with a flagstone patio and walk paths, mature trees and a storage shed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Briar Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Briar Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262369

* 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
Glen Oaks Elementary School Primary Regular 481 30 10
Dowell Middle School Middle Regular 1,092 72 9
Mckinney Boyd High School High Regular 2,881 169 8

Glen Oaks Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 30
10
GreatSchools Rating

Dowell Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 72
9
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,361
Property Tax -$695
Property Insurance -$172
HOA -$67
Property Management Fees -$99
CASH FLOW
-$394

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.

$369,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,085

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2124 Green Hill Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,512 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,512 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 5312 Crossvine Lane Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2003
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 2104 Old Mcgarrah Road Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1988
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 5801 Pinyon Drive Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2001
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 1703 Crown Point Road Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brittany Dodson
Re/max Signature Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480678
Last Updated: 12/05/2020
BESbswy