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111 Hollie Drive Red Oak, TX 75154

4 Beds 3 Baths 2,030 sqft Built 1980

$325,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $160.10
  • 4 Days on Market
  • MLS # : 14498178
  • Updated Date : 01/16/2021 at 11:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Beautifully updated 4 Bedroom 3 Bath dream home! The large kitchen is beautifully spotlighted with a large island and granite countertops, decorative back splash, Master suite is perfect for king size furniture. Backyard fenced into two sections. Roof Replaced August 2019,all new doors, all wood cabinets with soft touch new insulation through out the entire house with foam,New driveway and new cement to backyard floor. Great location close proximity to the schools.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Hollie Acres

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $106k243k

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

Neighborhood: Hollie Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9661734

* 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
H.a. Wooden Elementary School Primary Regular 483 29 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

H.a. Wooden Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 29
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,129
Property Tax -$709
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8453$1,8504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 111 Hollie Drive Red Oak, TX 4
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 314 N Lowrance Road Red Oak, TX 1
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1980
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 503 Bluebonnet Lane Red Oak, TX 2
    • 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.00
    •  
  • 211 Barbara Way Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1993
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 325 Sondra Way Red Oak, TX 5
    • 3 beds 2 baths ∙ 2,105 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,105 Sqft ∙ Built 1992
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
PROPERTY LISTING DETAILS
Carolina Guzman
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498178
Last Updated: 01/16/2021
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