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1184 Oak Hill Lane Murphy, TX 75094

4 Beds 4 Baths 3,491 sqft Built 2006

$439,999

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $126.04
  • 6 Days on Market
  • MLS # : 14461290
  • Updated Date : 10/29/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,491 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Step into this gorgeous well maintained home that sits on an incredible two lots and professionally landscaped. Open kitchen with granite counters and a large island perfect for entertaining. Spacious owner's bedroom with ample closet space and 5 piece bath. New upgrades include hardwood flooring downstairs, new carpet up, paint throughout and new hot water heaters. Step out into your magnificent backyard surrounded by a new 10ft. cedar board on board fence that has plenty of room for a pool. Don't miss out on this one! It won't last long.

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

Neighborhood: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Neighborhood: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262469

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$395,999$483,999$439,999

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,623
Property Tax -$766
Property Insurance -$229
HOA -$19
Property Management Fees -$99
CASH FLOW
-$386

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.

$439,999

PROJECTED PRICE

$2,350

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $329,999
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,348

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3504$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1184 Oak Hill Lane Murphy, TX 3
    • 4 beds 4 baths ∙ 3,491 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,491 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.67
    •  
  • 909 Appalachian Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 3105 Leesa Court Wylie, TX 2
    • 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 516 Windy Knoll Drive Murphy, TX 4
    • 4 beds 4 baths ∙ 3,672 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,672 Sqft ∙ Built 2013
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.68
    •  
  • 625 Gene Autry Lane Murphy, TX 5
    • 5 beds 4 baths ∙ 3,774 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,774 Sqft ∙ Built 2010
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.66
    •  
PROPERTY LISTING DETAILS
Noelle Coats
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461290
Last Updated: 10/29/2020
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