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115 Oakbend Trail Mabank, TX 75147

4 Beds 4 Baths 2,600 sqft Built 2020

$435,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $167.31
  • 2 Days on Market
  • MLS # : 14475642
  • Updated Date : 11/21/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full , 1 half
Listing Agent

Biggs Realty

Listing Agent's Description

Easy 45 min drive from Dallas - escape to the lake! Thoughtful floorplan offers 4 bedrooms, 3.5 baths & a large office with French doors! Fourth bedroom with full bath is the only room upstairs & would make a great gameroom, media room, or teen retreat! Beautiful owner retreat with separate vanities, garden tub, and oversized shower. Split design offers 2 bedrooms with a big Jack & Jill bath. LOTS of closet space in this home! Large covered patio. Designer touches throughout with fantastic views of trees and nature on this .86 acre lot. Additional .86 lot available next door! Oakmont is an exclusive gated (gate coming soon) lakeside community with planned amenities including pavilion & boat trailer lot.

SEE MORE

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: City View

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $89k244k

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

Neighborhood: City View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261910

* 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
Oakmont Elementary School Primary Regular 561 39 5
Sue Crouch Intermediate School Middle Regular 501 27 5
North Crowley High School High Regular 2,442 148 4

Oakmont Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
5
GreatSchools Rating

Sue Crouch Intermediate School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,605
Property Tax -$926
Property Insurance -$177
HOA -$50
Property Management Fees -$99
CASH FLOW
-$318

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$435,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.2%
Maintenance Year (1-5) 3.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$117,275

INVESTMENT

$117,275

Down Payment
$108,750
Rehab Estimate
$2,000
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2753$2,5404$2,8005$2,899
$2,899
RENT COMPS ANALYSIS
  • 115 Oakbend Trail Mabank, TX 3
    • 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.98
    •  
  • 6925 Andress Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 2001
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 7121 Axis Court Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 2000
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.00
    •  
  • 7120 Axis Court Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2000
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 7345 Brightwater Road Fort Worth, TX 5
    • 3 beds 4 baths ∙ 2,800 Sqft ∙ Built 2008 3 beds 4 baths ∙ 2,800 Sqft ∙ Built 2008
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,899
    • $1.04
    •  
PROPERTY LISTING DETAILS
Colleen Howell
Biggs Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475642
Last Updated: 11/21/2020
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