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4708 Witten Park Way Mckinney, TX 75070

4 Beds 3 Baths 3,664 sqft Built 2005

$445,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $121.45
  • 5 Days on Market
  • MLS # : 14495326
  • Updated Date : 01/08/2021 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,664 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Great home in Village Park - 4 bdrms 3 baths plus huge game room; Updates include composition shingles & gutters replaced in 2019; 2 AC & Heat units interior & exterior replaced in 2018; Hot water heater replaced 2017; Fence replaced 2016; Beautiful handscraped wood floors in foyer, dining, breakfast nook & hallways. Kitchen has tons of cabinet space with upper lighting. Master bedroom is a great size with sitting area. Study plus 2 bedrooms & bathroom off the front. Great covered patio off of the back of the home with a private backyard plus community pool & lake for fishing within the neighborhood. Quick jump to 121 & 75 tons of shopping close as well. All located in Allen ISD!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k375k

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

Neighborhood: Village Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262174

* 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
Lindsey Elementary School Primary Unknown NA
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Lindsey Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,546
Property Tax -$838
Property Insurance -$239
HOA -$48
Property Management Fees -$99
CASH FLOW
-$270

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.

$445,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,830

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,7004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 4708 Witten Park Way Mckinney, TX 2
    • 4 beds 3 baths ∙ 3,664 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,664 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.68
    •  
  • 4900 Newbridge Drive Mckinney, TX 1
    • 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2005
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 4504 Jubilee Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,718 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,718 Sqft ∙ Built 2014
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.73
    •  
  • 5605 Bottiglia Way Mckinney, TX 4
    • 5 beds 5 baths ∙ 3,339 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,339 Sqft ∙ Built 2017
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.84
    •  
  • 4405 Jubilee Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,630 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,630 Sqft ∙ Built 2014
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Deborah Diviney
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495326
Last Updated: 01/08/2021
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