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2720 Golfview Drive Mckinney, TX 75069

4 Beds 4 Baths 3,308 sqft Built 2013

$385,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $116.38
  • 3 Days on Market
  • MLS # : 14468038
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,308 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

Spacious 2 story home located on private greenbelt in Greens of Mckinney! Wonderful front porch to relax on and enjoy! Open floor plan allows you to enjoy the kitchen, dining and living areas with soaring ceiling! Formal dining to enjoy company with! Kitchen boasts granite, stainless, gas cooktop and walk in pantry, Gas fireplace and back of home loaded with windows to enjoy the open greenbelt views! Master located down with walk in closet, garden tub, separate shower. Upstairs has 3 secondary bedrooms with one being large enough to be considered a 2nd master! HUGE game room and great media room! Backyard contains covered arbor and larger patio for great entertaining space! over 3300 square feet!

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: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k347k

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

Neighborhood: Greens of Mckinney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Malvern Elementary School Primary Regular 540 42 3
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Malvern Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 42
3
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,420
Property Tax -$797
Property Insurance -$218
HOA -$33
Property Management Fees -$99
CASH FLOW
-$158

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.

$385,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,407

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,3505$2,410
$2,410
RENT COMPS ANALYSIS
  • 2720 Golfview Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,308 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,308 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.73
    •  
  • 2808 Golfview Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,054 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,054 Sqft ∙ Built 2013
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 813 Setting Sun Trail Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
  • 800 Hardwood Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2013
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 800 Ping Mckinney, TX 4
    • 5 beds 4 baths ∙ 3,226 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,226 Sqft ∙ Built 2013
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.73
    •  
PROPERTY LISTING DETAILS
Roberta Bracco
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468038
Last Updated: 11/13/2020
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