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

5200 Evergreen Drive Mckinney, TX 75070

3 Beds 2 Baths 2,412 sqft Built 2000

INVESTimate

$325,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$351,878  ( +8.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $134.74
  • 6 Days on Market
  • MLS # : 14417060
  • Updated Date : 08/24/2020 at 18:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,412 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

This home has great CURB APPEAL from the flagstone walkway to the beautiful new FRONT door. SINGLE STORY with a BONUS room up, great FLOORPLAN. WOOD floors in LR, DR, FAMILY rm, OFFICE & MASTER BEDROOM. New custom TILE in kitchen & guest bathroom. Freshly PAINTED throughout. NEUTRAL decor. New CARPET in 2 bedrooms, up the stairs & BONUS rm. Backyard OASIS features LARGE covered flagstone patio, LARGE 6 person CAL HOT TUB for your enjoyment & deck with no backyard maintenance. ROOF approx. 2 yrs., AC units 2 yrs. NEW SS BOSCH dishwasher, STOVE & MICROWAVE. Neighborhood POOL a few doors up the street. LR, DR. presently used as GAMES rm, BONUS rm upstairs as teen BEDROOM, RETREAT. OFFICE has a CLOSET. MUST SEE!

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: 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
Mcgowen Elementary School Primary Regular 674 44 7
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
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
 

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

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,199
Property Tax -$612
Property Insurance -$167
HOA -$29
Property Management Fees -$99
CASH FLOW
-$236

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

$1,870

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.27%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8704$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 5200 Evergreen Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.78
    •  
  • 5504 Flowerwood Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 2002
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 3912 Gardenia Lane Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,239 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,239 Sqft ∙ Built 2002
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 5617 Petunia Drive Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1999
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 5000 Evergreen Drive Mckinney, TX 5
    • 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1999
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
PROPERTY LISTING DETAILS
Dorothy Lafferty
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417060
Last Updated: 08/24/2020
BESbswy