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102 Mabry Lane Red Oak, TX 75154

4 Beds 2 Baths 1,699 sqft Built 1988

$234,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $138.26
  • 1 Days on Market
  • MLS # : 14532556
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,699 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

NO CITY TAXES, NO HOA!!! DON'T MISS OUT ON THIS GREAT HOME ON .5 OF AN ACRE IN RED OAK ISD. GARAGE HAS BEEN CONVERTED TO AN OVERSIZED BEDROOM WITH A LARGE WALK-IN CLOSET; ENDLESS POSSIBILITIES WITH THIS CONVERSION. LARGE OPEN PATIO AND FENCED IN BACK YARD ARE PERFECT FOR ENTERTAINING FAMILY AND FRIENDS. ROOF AND HVAC SYSTEM ARE LESS THAN A YEAR OLD. ALL INFORMATION CONTAINED HEREIN DEEMED RELIABLE BUT NOT GUARANTEED. BUYER AND BUYER'S AGENT TO VERIFY INFORMATION CONTAINED HEREIN, INCLUDING BUT NOT LIMITED TO: SQUARE FEET, ROOM SIZES, SCHOOLS, TAXES, ETC. LISTING AGENT IS NOT RESPONSIBLE FOR INACCURACIES.

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MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Brookwood Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Brookwood Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8871734

* 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
Eastridge Elementary School Primary Regular 408 24 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Eastridge Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 24
7
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$816
Property Tax -$512
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$88

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.

$234,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$16,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6403$1,7004$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 102 Mabry Lane Red Oak, TX 2
    • 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 250 Cobblestone Circle Red Oak, TX 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 206 Cobblestone Circle Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 330 Fox Hollow Drive Red Oak, TX 4
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 104 Richard Lane Red Oak, TX 5
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2004
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
PROPERTY LISTING DETAILS
Esmeralda Lassiter
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532556
Last Updated: 03/13/2021
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