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5112 White Spruce Drive Mckinney, TX 75071

3 Beds 2 Baths 2,088 sqft Built 2007

$335,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $160.44
  • 5 Days on Market
  • MLS # : 14469065
  • Updated Date : 11/12/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Re/max Premier Properties

Listing Agent's Description

Charming tastefully done single story home Hardly lived in. Private, large backyard backs up to trails through out the neighborhood. Highly sought for Prosper schools. Large wrap around deck and hot tub for 6! Newly renovated kitchen with granite counter tops, black splashes, gas cook top, new appliances. Almost new refrigerator is remaining with the house!! Excellent Floor plan is ideal with large, open informal space, private master suite, study with french doors and two separate secondary bedrooms with living area in between. Beautiful lake in the community along with community pool, playground. Minutes from Baylor hospital, shopping, 75, 380, community college, restaurant, centrally located to all cities.

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: 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
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
 

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

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,236
Property Tax -$631
Property Insurance -$148
HOA -$33
Property Management Fees -$99
CASH FLOW
-$256

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

$1,890

PROJECTED RENT

0.56%

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-$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$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

1.42

YEARS SAVED

$2,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8253$1,8904$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 5112 White Spruce Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.91
    •  
  • 5000 Blackwood Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 2006
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 5004 Bald Cypress Lane Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.93
    •  
  • 5032 Birchwood Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 2007
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 3000 Mosswood Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2008
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Wennie Mcanally
Re/max Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469065
Last Updated: 11/12/2020
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