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5821 Oldham Drive Mckinney, TX 75070

4 Beds 2 Baths 2,147 sqft Built 2002

$325,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $151.37
  • 3 Days on Market
  • MLS # : 14463574
  • Updated Date : 11/01/2020 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,147 sqft
  • Baths : 2 full
Listing Agent

Three Trees Realty

Listing Agent's Description

IMMACULATE HOME! Extremely well-maintained 4-bedroom 2-bath home with large kitchen that opens to breakfast & family room. Many upgrades include Solar Smart II windows & doors, roof in 2019, stainless steel appliances & granite countertops in kitchen. Also included are a completely remodeled guest bath and the unique underground ArmourGuard Storm shelter & safe room in the garage. Gorgeous backyard with covered patio & 2 added storage sheds. This home is move-in ready and must be seen to appreciate. Room dimensions should be verified by buyer.

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
Johnson Elementary School Primary Regular 583 36 6
Evans Middle School Middle Regular 1,443 90 8
Mckinney High School High Regular 2,486 148 7

Johnson Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 36
6
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

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,199
Property Tax -$612
Property Insurance -$151
HOA -$29
Property Management Fees -$99
CASH FLOW
-$291

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

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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$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 70% 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

YEARS SAVED

$1,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8954$1,9905$2,000
$2,000
RENT COMPS ANALYSIS
  • 5821 Oldham Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 5509 Cedar Elm Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2003
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 5608 Tulip Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 2000
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 5816 Pine Meadow Lane Mckinney, TX 4
    • 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.90
    •  
  • 5617 Petunia Drive Mckinney, TX 5
    • 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1999
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ken Stoneking
Three Trees Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463574
Last Updated: 11/01/2020
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