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6009 Oldham Drive Mckinney, TX 75070

3 Beds 2 Baths 1,931 sqft Built 2002

$299,999

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $155.36
  • 3 Days on Market
  • MLS # : 14517905
  • Updated Date : 02/12/2021 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Exit Realty Elite

Listing Agent's Description

Wow! Wonderful updated 1 story home featuring an excellent floorplan with formal living, dining and split bedroom layout. Large open family features that overlook a great backyard. Spacious kitchen with huge island, pantry, lots of counter space & cabinets. Master bedroom is generous in size & bathroom has a garden tub, dual sinks & separate shower. Excellent location close to school, Walmart, Hwy 75 & 121. Walk to Exempt Elm Johnson, pool, park, playground & greenbelt. You do not want to miss this one.

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
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,042
Property Tax -$565
Property Insurance -$139
HOA -$29
Property Management Fees -$99
CASH FLOW
-$64

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.

$299,999

PROJECTED PRICE

$1,810

PROJECTED RENT

0.60%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7904$1,8105$1,895
$1,895
RENT COMPS ANALYSIS
  • 6009 Oldham Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.94
    •  
  • 5901 Mariposa Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2007
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 5912 Mariposa Drive Mckinney, TX 2
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2005
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 6405 Oakmont Drive Mckinney, TX 3
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2000
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.90
    •  
  • 3608 Snapdragon Lane Mckinney, TX 5
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
PROPERTY LISTING DETAILS
Boo Reitz
Exit Realty Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517905
Last Updated: 02/12/2021
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