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

5509 Pinewood Drive Mckinney, TX 75071

4 Beds 4 Baths 3,657 sqft Built 2015

$479,978

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $131.25
  • 3 Days on Market
  • MLS # : 14511907
  • Updated Date : 02/05/2021 at 17:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,657 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

Stunning two story home in Heatherwood backing to a greenbelt with three car garage! Hard to find! Rich hardwood floors and a curved staircase greet you upon entering this home. Formal dining with plantation shutters and study with french doors that is perfect for working from home. Spacious family room with a stone fireplace opens to the chef's kitchen with granite counters, professional gas range, double ovens, island, breakfast nook with a window seat and more. Oversized master suite features a garden tub, separate shower and walk-in closet. Upstairs has plenty of space with a media room, gameroom, three guest rooms and two full baths. Spectacular backyard with a covered flagstone patio and greenbelt views!

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
 

$431,980$527,976$479,978

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,667
Property Tax -$904
Property Insurance -$239
HOA -$33
Property Management Fees -$99
CASH FLOW
-$252

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.

$479,978

PROJECTED PRICE

$2,690

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,944

INVESTMENT

$132,944

Down Payment
$119,995
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,995
Loan Amount $359,984
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$6,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,706

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,6503$2,6904$2,6955$2,795
$2,795
RENT COMPS ANALYSIS
  • 5509 Pinewood Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,657 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,657 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.74
    •  
  • 5305 Grove Cove Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,509 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,509 Sqft ∙ Built 2013
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.71
    •  
  • 3212 Orleans Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,705 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,705 Sqft ∙ Built 2017
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.72
    •  
  • 5200 Pinewood Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2012
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.74
    •  
  • 5625 Granada Drive Mckinney, TX 5
    • 5 beds 4 baths ∙ 3,529 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,529 Sqft ∙ Built 2014
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.79
    •  
PROPERTY LISTING DETAILS
Nicholas Nordman
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511907
Last Updated: 02/05/2021
BESbswy