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2408 Glenhaven Drive Mckinney, TX 75071

3 Beds 3 Baths 1,744 sqft Built 2003

$269,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $154.76
  • 6 Days on Market
  • MLS # : 14461416
  • Updated Date : 10/30/2020 at 09:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,744 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Wonderful single story home with TONS OF UPGRADES! Fresh paint, new carpet, new laminate wood, NEW ROOF! Kitchen features new granite counter tops, new stainless steel dishwasher and stove. Plenty of room for an island and good counter space. Open living area that looks out to backyard. Master is spacious. Minutes from Hwy 75 and shopping. Mature clean neighborhood with plenty of space for walking. The HOA sponsors events such as holiday light contest, yard of the month, movie night at the park, community garage sales and more! Come tour today!

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: Sandy Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k344k

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

Neighborhood: Sandy Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472171

* 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
Slaughter Elementary School Primary Regular 650 50 6
Cockrill Middle School Middle Regular 1,349 87 9
Mckinney Boyd High School High Regular 2,881 169 8

Slaughter Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 50
6
GreatSchools Rating

Cockrill Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 87
9
GreatSchools Rating

Mckinney Boyd High School

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

$242,910$296,890$269,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$996
Property Tax -$508
Property Insurance -$128
HOA -$20
Property Management Fees -$99
CASH FLOW
-$151

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6754$1,6755$1,795
$1,795
RENT COMPS ANALYSIS
  • 2408 Glenhaven Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2413 Glenhaven Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2003
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 2417 Glenhaven Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.04
    •  
  • 2332 Glenhaven Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2002
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.99
    •  
  • 2428 Collier Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2003
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
PROPERTY LISTING DETAILS
Robert Jones
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461416
Last Updated: 10/30/2020
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