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2408 Eaton Drive Mckinney, TX 75072

3 Beds 2 Baths 1,495 sqft Built 2004

$285,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $190.64
  • 3 Days on Market
  • MLS # : 14526303
  • Updated Date : 03/06/2021 at 13:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,495 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Beautiful well-maintained 3 bedroom, 2 bath home, split floor plan. New neutral paint throughout the home. Upgraded flooring throughout with luxury vinyl plank flooring in the hall and main living area, neutral modern stainmaster berber carpet in the bedrooms. Walk-in closets in every bedroom. Bright white kitchen with new sink and new dishwasher, walk in pantry, gas stove. Open kitchen, dining, living area with gas fireplace. End to end patio across the back with a patio cover and sun shades for light control. Attractive landscaping in the front and back yard. New roof, patio cover, and re-stained fence 2019. Move in ready and gorgeous! BEST AND FINAL OFFERS MUST BE SUBMITTED BEFORE 7PM SUNDAY MARCH 7TH

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

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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$990
Property Tax -$537
Property Insurance -$114
HOA -$35
Property Management Fees -$99
CASH FLOW
-$104

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.

$285,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,986

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6953$1,7504$1,8255$1,845
$1,845
RENT COMPS ANALYSIS
  • 2408 Eaton Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.12
    •  
  • 10109 Sanden Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2005
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
  • 2312 Grover Cleveland Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 2316 Eaton Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2005
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.11
    •  
  • 2409 Eaton Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2004
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jon Kirby
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526303
Last Updated: 03/06/2021
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