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$557,557

NAL Estimated Property Value

5124 Grovewood Dr, McKinney, TX, 75071

Off MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,915 Sq Ft
price_per_sqft$180.1 / sqft
Year BuiltBuilt in 2013

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Gas Cooktop, Gas Range, Gas Water Heater, Microwave, Refrigerator
FlooringCarpet, Tile, Vinyl

Exterior

Private PoolPrivate Pool
Lot Size7,971 sqft

Building Information

Year Built2013
Stories2
Garage Spaces2

Land Information

APNR-10060-00W-0140-1
Lot Number14
SubdivisionHeatherwood Phase 3a (Cmc)
Land UseResidential
Legal DescriptionHEATHERWOOD PHASE 3A (CMC), BLK W, LOT 14
Census Tract030301
Assessed Land Value$140,000
Assessed Improvement Value$417,557
Assessment Year2025

About this property

Rare 3-CAR GARAGE, One and a half story home, with a potential in-law suite, on 1st floor, in sought-after Prosper Independent School District, and in McKinney! WOW! This beautifully designed K. Hovnanian Home offers a RARE custom floor plan ideal for multi-generational living. Featuring a private in-law suite complete with its own living area, bedroom, and a custom widened doorway for handicap accessibility to the full bath, this thoughtfully designed space provides flexibility and comfort for extended family or guests. This move-in-ready home features durable wood-look flooring, an open-concept layout, and a spacious kitchen with granite countertops overlooking the living room, creating the perfect setup for everyday living and entertaining. Upstairs offers a generously sized living, game, or media room along with an additional bedroom and full bath, providing extra living space and privacy. The quiet backyard includes a covered patio ideal for relaxing or entertaining outdoors. Additional highlights include a 3-car garage, Double Doors to the office, and a prime McKinney location with easy access to Costco, shopping, restaurants, and major highways for convenient commuting. Located within walking distance to John A. Baker Elementary School and Jim Ledbetter Community Park with playgrounds, trails, community pool, and open green space nearby, this home combines functionality, convenience, and a highly desirable location.

Investor Tools

Property Icon
$557,557
Estimated Property Value
$95,359Estimated Mortgage Balance
$462,198Estimated Equity
82% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,345 /month
Positive
Cash Flow Estimate:
$1,115 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$985/month
$420/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$9,031
$557,557
2025
$140,000
$417,557
$557,557
No

Tax History

Year
Tax Paid
Assessed Value
2024
$9,031
$557,557

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
K Hovnanian American Mortgage Llc
Conventional
$130,700
No
First
May 19, 2014
Jun 2034

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$95,359
$462,198
82%
17%
$784/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,520/mo
$1,204/mo
+$2,316/mo
7.6%

Learn About the Market: Opportunity in Texas

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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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5124 Grovewood Dr | Property Details | No Agent List