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$608,463

NAL Estimated Property Value

5024 Grovewood Drive, McKinney, TX, 75071

Off MarketInfo
Beds4 Beds
Baths4 Bath
Baths3,435 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$163.03 / sqft
Year BuiltBuilt in 2012

Property Lead Type:

Off-Market ListHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3.5Bathrooms Full 3.5
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Oven, Gas Cooktop, Microwave
FlooringCarpet, Ceramic Tile

Exterior

Exterior FeaturesRain Gutters
Lot Size7,841 sqft

Building Information

Year Built2012
Stories2
Garage Spaces2

Land Information

APNR-10060-00W-0070-1
Lot Number7
SubdivisionHeatherwood Phase 3a (Cmc)
Land UseResidential
Legal DescriptionHEATHERWOOD PHASE 3A (CMC), BLK W, LOT 7
Census Tract030301
Assessed Land Value$154,000
Assessed Improvement Value$454,463
Assessment Year2025

About this property

Look no further, this BEAUTIFUL home has ALL that you are looking for in the highly sought after PROSPER ISD! Welcome home to this spacious open floor plan that has 4 bedrooms, 3.5 baths, 3 car garage plus study, additional flex space downstairs, media AND gameroom upstairs! Definitely a MUST-SEE, this home also has recent updates including wood-like tile downstairs that flows, upgraded kitchen with new appliances, new water heaters, brand new roof in December 2021 plus MORE! Located near greenbelt space in the great community of Heatherwood, you will also enjoy relaxing or entertaining on the over-sized covered back patio in the large, private backyard. Don't miss your chance to see this gem!

Investor Tools

Property Icon
$608,463
Estimated Property Value
$511,317Estimated Mortgage Balance
$97,146Estimated Equity
15% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,651 /month
Positive
Cash Flow Estimate:
$1,217 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,082/month
$195/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$9,946
$608,463
2025
$154,000
$454,463
$608,463
No

Tax History

Year
Tax Paid
Assessed Value
2024
$9,946
$608,463

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Nexbank Ssb
Conventional
$555,750
No
First
Feb 7, 2022
Mar 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$511,317
$97,146
15%
84%
$3,333/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,520/mo
$3,528/mo
$-8/mo
6.9%

Learn About the Market: Opportunity in Texas

Local Market Pages
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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: McKinney

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5024 Grovewood Drive | Property Details | No Agent List