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114 Crystal Creek Drive Red Oak, TX 75154

5 Beds 4 Baths 3,053 sqft Built 2016

$385,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $126.11
  • 3 Days on Market
  • MLS # : 14523012
  • Updated Date : 02/26/2021 at 18:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,053 sqft
  • Baths : 3 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2016, this Red Oak two-story cul-de-sac home offers granite countertops, and a two-car garage. Home utilities may be turned off due to weather conditions. This home has been virtually staged to illustrate its potential.

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
Red Oak Elementary School Primary Regular 635 37 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Red Oak Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 37
6
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,337
Property Tax -$839
Property Insurance -$204
Property Management Fees -$99
CASH FLOW
-$299

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.

$385,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.57%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,259

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1503$2,1804$2,195
$2,195
RENT COMPS ANALYSIS
  • 114 Crystal Creek Drive Red Oak, TX 3
    • 5 beds 4 baths ∙ 3,053 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,053 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.71
    •  
  • 127 Evening Star Circle Red Oak, TX 1
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2006
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 627 Magnolia Lane Glenn Heights, TX 2
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2004
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 100 Bob White Drive Red Oak, TX 4
    • 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2002
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523012
Last Updated: 02/26/2021
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