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5032 Blackwood Drive Mckinney, TX 75071

4 Beds 2 Baths 1,965 sqft Built 2005

$325,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $165.39
  • 3 Days on Market
  • MLS # : 14399689
  • Updated Date : 03/13/2021 at 15:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,965 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Highest and best due by Sunday at 7pm. Multiple offers received. Seller would prefer 45-60 day leaseback. Charming and well maintained 4 bedroom, 1 story home in McKinney with award winning Prosper ISD. Gorgeous granite counters, stainless steel appliances, wood flooring, custom paint. Formal dining room is a fantastic flex space for a home office or playroom. Open floor plan for convenient daily living, and a private master retreat with en suite bath. Beautiful landscaping and a peaceful backyard round out this perfect home! Neighborhood amenities include community pool, splash pad, 10 acre park, trails & playground and highly rated Baker Elementary. Close to entertainment, dining and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Heatherwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k350k

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

Neighborhood: Heatherwood

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
John A. Baker Elementary School Primary Regular 698 53 8
Prosper High School High Regular 1,868 120 9
John A. Baker Elementary School Primary Unknown NA

John A. Baker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 53
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating

John A. Baker Elementary School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,129
Property Tax -$612
Property Insurance -$141
HOA -$33
Property Management Fees -$99
CASH FLOW
-$133

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.

$325,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8453$1,8804$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5032 Blackwood Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.96
    •  
  • 5209 Bald Cypress Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2007
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 5005 Old Oak Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.99
    •  
  • 5208 Blackelm Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2005
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 5008 Blackelm Drive Mckinney, TX 5
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2010
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
PROPERTY LISTING DETAILS
Denton Aguam
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14399689
Last Updated: 03/13/2021
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