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2808 Briargrove Lane Mckinney, TX 75071

4 Beds 3 Baths 2,614 sqft Built 2002

$317,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $121.61
  • 6 Days on Market
  • MLS # : 14462460
  • Updated Date : 10/31/2020 at 15:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,614 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

You won't want to miss seeing this adorable 4 bedroom 2.5 bath home in McKinney! Beautiful wood laminate flooring, updated paint and fixtures, new HVAC units, new hot water heater. Newly added back covered patio! So many updates!!! Includes a large gameroom upstairs with three additional bedrooms and full bath. Downstairs includes spacious kitchen, dining, office and master suite. Hurry to view before its gone! Welcome home to 2808 Briargrove!

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
 

$286,110$349,690$317,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,173
Property Tax -$599
Property Insurance -$178
HOA -$16
Property Management Fees -$99
CASH FLOW
-$285

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.

$317,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.56%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,994

INVESTMENT

$89,994

Down Payment
$79,475
Rehab Estimate
$5,750
Closing Costs
$4,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,475
Loan Amount $238,425
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7803$1,8504$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 2808 Briargrove Lane Mckinney, TX 2
    • 3 beds 3 baths ∙ 2,614 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,614 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.68
    •  
  • 2908 W Bluffs Court Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.67
    •  
  • 3104 Timber Ridge Trail Mckinney, TX 3
    • 3 beds 3 baths ∙ 2,746 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,746 Sqft ∙ Built 2004
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 2800 Briargrove Lane Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2002
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 2837 Bentwood Way Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2005
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462460
Last Updated: 10/31/2020
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