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6008 Oldham Drive Mckinney, TX 75070

4 Beds 2 Baths 2,379 sqft Built 2001

$315,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $132.41
  • 5 Days on Market
  • MLS # : 14455781
  • Updated Date : 10/31/2020 at 14:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,379 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-coit

Listing Agent's Description

This fresh 4 Bedroom 2 Full Bath home offers 2 Living Areas and a fully remodeled Kitchen. Enter to High Ceilings, Great Room with Living and Formal Dining on the right and Bedroom 4 or Study on the Left. Island Kitchen with Granite Countertops, Stainless Steel Gas Range, and tons of Cabinets. The kitchen is open to the Family Room with a cozy Fireplace and a Wall of Windows overlooking the Backyard. 2 Bedrooms with Walk-In Closets share a Bath in the front hallway. Private Master Bedroom with Window Ledge & Large Walk-In Closet. Master with Jetted Tub, Shower & His & Her Vanities. Covered Patio. 2020 updates include Interior Paint, Carpet, Roof, New Fence & much more. Nice size Yard. Close to highways & shops.

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,162
Property Tax -$593
Property Insurance -$165
HOA -$29
Property Management Fees -$99
CASH FLOW
-$138

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.

$315,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.61%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9104$1,9905$2,100
$2,100
RENT COMPS ANALYSIS
  • 6008 Oldham Drive Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.80
    •  
  • 6401 Sidney Lane Mckinney, TX 1
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 3612 Lauren Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 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
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.90
    •  
  • 3605 Lauren Drive Mckinney, TX 5
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Avaan Lieberman
Ebby Halliday, Realtors-coit
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455781
Last Updated: 10/31/2020
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