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5109 Bear Valley Drive Mckinney, TX 75071

3 Beds 2 Baths 1,324 sqft Built 2010

$260,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $196.37
  • 1 Days on Market
  • MLS # : 14496483
  • Updated Date : 01/10/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,324 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

BEAUTIFUL SIMPLICITY! 3 bed, 2 bath home in the exemplary rated Prosper ISD. Charming home with spacious living area and open kitchen creating a central hub to the home and perfect space to entertain. Primary bedroom has stunning hardwoods & tiered ceiling for a cozy retreat. Ensuite bathroom features luxe garden tub & separate shower. Bedrooms 2 and 3 have new carpet. Bedrooms are perfect for family, feature tiered ceilings, windows and brand new carpet. Gorgeous backyard with patio, trees & room to play. Community amenities: pools, fishing ponds, hike & bike trails. This home is full of comfort and intimacy! Get it before it's gone!

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: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10382171

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$903
Property Tax -$490
Property Insurance -$104
HOA -$42
Property Management Fees -$99
CASH FLOW
-$27

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.

$260,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6103$1,6504$1,6505$1,680
$1,680
RENT COMPS ANALYSIS
  • 5109 Bear Valley Drive Mckinney, TX 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.22
    •  
  • 2217 Preston Lane Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2006
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.13
    •  
  • 5104 Bridgeport Road Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 2204 Spencer Place Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2010
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 2205 Spencer Place Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.12
    •  
PROPERTY LISTING DETAILS
Stacey Leslie
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496483
Last Updated: 01/10/2021
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