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2523 High Pointe Boulevard Mckinney, TX 75071

4 Beds 2 Baths 2,005 sqft Built 1992

$279,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $139.15
  • 3 Days on Market
  • MLS # : 14468755
  • Updated Date : 11/12/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 2 full
Listing Agent

Bill Jahnke, Realtor

Listing Agent's Description

Rare four bedroom home with rear entry garage in highly sought after High Pointe Addition. Close to schools that feed to McKinney North High. Large master with bath featuring twin vanities, two walk in closets and a separate garden tub and glass enclosed tile shower. Large family room with brick fireplace. Gourmet kitchen featuring granite counter tops with tile back splash, gas cooktop, built in microwave and a Bosch dishwasher. Breakfast room with window seat. Separate room utility with lots of built in cabinets and space for an upright freezer or second refrigerator. Ceiling fans, mini blinds and window treatments throughout. Roof 2020,AC 2018.Fenced, pool size back yard. Come see this gem before it is gone.

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: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402171

* 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,029
Property Tax -$525
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$97

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.

$279,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7954$1,8655$1,900
$1,900
RENT COMPS ANALYSIS
  • 2523 High Pointe Boulevard Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 2502 Cattleman Drive Mckinney, TX 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 2213 Kingsdale Court Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 2005
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 2519 Buckskin Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2000
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.99
    •  
  • 2109 Kingsdale Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2006
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bill Jahnke
Bill Jahnke, Realtor
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468755
Last Updated: 11/12/2020
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