Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4904 Clove Court Mckinney, TX 75070

4 Beds 3 Baths 2,139 sqft Built 2000

$335,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $156.62
  • 2 Days on Market
  • MLS # : 14481633
  • Updated Date : 12/05/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,139 sqft
  • Baths : 2 full , 1 half
Listing Agent

Infinity Realty Partners

Listing Agent's Description

GREAT McKINNEY LOCATION! Family friendly Eldorado Heights, 4 bedrooms and 2 baths and powder room, Updated tile floors. Great shade trees, this home is located in a quiet cul-de-sac! Eat in Kitchen with a large formal dining room as well. Board on Board fence and rear entry 2 car garage. Enjoy the fire place with gas logs! Master Bedroom is down with 3 bedrooms are upstairs. This community has 3 swimming pools to enjoy this summer. This family friendly home is just waiting for your family!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Eldorado Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10542171

* 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
Johnson Elementary School Primary Regular 583 36 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Johnson Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 36
6
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney High School

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

$301,500$368,500$335,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,236
Property Tax -$631
Property Insurance -$151
HOA -$29
Property Management Fees -$99
CASH FLOW
-$356

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.

$335,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7253$1,7904$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 4904 Clove Court Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 4605 Green Meadow Drive Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1998
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 3119 Melrose Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1999
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.82
    •  
  • 3404 Apple Blossom Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1998
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 3432 Almond Lane Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1998
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
PROPERTY LISTING DETAILS
J'net Webb
Infinity Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481633
Last Updated: 12/05/2020
BESbswy