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118 Spanish Oaks Trail Glen Rose, TX 76043

3 Beds 2 Baths 1,752 sqft Built 1999

$252,500

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $144.12
  • 2 Days on Market
  • MLS # : 14523692
  • Updated Date : 03/06/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full
Listing Agent

Century 21 Quad J Realty

Listing Agent's Description

This lovely 3-bdrm, 2-bath home sits on a .23-acre wooded lot in Glen Rose. Built in 1999 this brick home features double garage, split bedroom arrangement, electric fireplace, & partial open living concept. The master bath boasts dual sinks, a jet tub, separate walk-in shower, & walk-in closet. The majority of the retaining walls were re-built about 15 months ago, & the two covered porches, front stone patio, & the backyard firepit provide a great place to unwind. This nice residential subdivision, Lakeside Addition, is located in Glen Rose & has city utilities & low city and county taxes. Close to hospitals, shopping & schools. And did I mention it's located in the sought-after Glen Rose ISD?!

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

Zip Code: 76043

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Zip Code: 76043

ZipNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10601734

* 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
Glen Rose Intermediate School Primary Regular 384 26 8
Glen Rose Junior High School Middle Regular 370 27 6
Glen Rose High School High Regular 475 43 7

Glen Rose Intermediate School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 26
8
GreatSchools Rating

Glen Rose Junior High School

  • Education Level: Middle
  • # of students: 370
  • # of teachers: 27
6
GreatSchools Rating

Glen Rose High School

  • Education Level: High
  • # of students: 475
  • # of teachers: 43
7
GreatSchools Rating
 

$227,250$277,750$252,500

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$877
Property Tax -$452
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$126

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.

$252,500

PROJECTED PRICE

$1,430

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,663

INVESTMENT

$72,663

Down Payment
$63,125
Rehab Estimate
$5,750
Closing Costs
$3,788

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$877

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,125
Loan Amount $189,375
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,430
$1,430
RENT COMPS ANALYSIS
  • 118 Spanish Oaks Trail Glen Rose, TX 2
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.82
    •  
  • 805 Clay Street Glen Rose, TX 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007
    property image
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Pamela Martin
Century 21 Quad J Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523692
Last Updated: 03/06/2021
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