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5819 Edgewood Drive Mckinney, TX 75072

4 Beds 4 Baths 3,013 sqft Built 1991

$400,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $132.76
  • 2 Days on Market
  • MLS # : 14477434
  • Updated Date : 11/27/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,013 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Amazing home is situated on a large CORNER lot in sought after Stonebridge Ranch! Private Study & Formal Dining room is flanked off the entry way! Attractive HW floors, fresh paint, + plantation shutters. Great open flowing floor plan features a large living w-a brick FP! Kitchen features a brick accent wall, pristine white cabs, Butlers Pantry, SS apps including dual ovens, island w-butcher block + an electric cooktop! Upstairs Game Room + 3 spacious bedrooms. Downstairs private Master Suite is generously sized & offers an en-suite bath w-a stand alone tub, his and her vanities, separate shower & two walk in closets! Backyard w-large patio area to enjoy + a board on board fence! Wonderful community amenities!

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: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k421k

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

Neighborhood: Spring Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262494

* 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
Wolford Elementary School Primary Regular 568 37 8
Evans Middle School Middle Regular 1,443 90 8
Mckinney Boyd High School High Regular 2,881 169 8

Wolford Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
8
GreatSchools Rating

Evans Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 90
8
GreatSchools Rating

Mckinney Boyd High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 169
8
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,476
Property Tax -$753
Property Insurance -$201
HOA -$64
Property Management Fees -$99
CASH FLOW
-$343

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$559

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,388

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2504$2,4005$2,800
$2,800
RENT COMPS ANALYSIS
  • 5819 Edgewood Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 3,013 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,013 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 2648 Dunbar Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2003
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 2633 Dunbar Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2003
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 5600 Briar Ridge Circle Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 1993
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 6717 Stony Hill Road Mckinney, TX 5
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ryan Weidner
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477434
Last Updated: 11/27/2020
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