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12 Red Oak Circle Hickory Creek, TX 75065

3 Beds 3 Baths 2,235 sqft Built 1980

$340,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $152.13
  • 4 Days on Market
  • MLS # : 14519152
  • Updated Date : 02/19/2021 at 18:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,235 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Premier Realty

Listing Agent's Description

This beautiful newly painted farm style home has an immense amout of charm and character. The owners did not overlook any detail when renovating it to perfection. Features include new windows, granite countertops in kitchen and bathrooms, farmhouse sink, and a new tub in the master bath. Property has dark gray porcelain floors throughout, fireplace was refinished with decorative stone. Perfect for entertaining as it features 2 living areas and a sunroom. At the back of the driveway you will find a 2nd garage-barn that has been transformed into a workshop-loft. The bonus structure has 2 floors, with the top floor featuring a loft style room made of cedar wood. Dont miss out on this beauty, it will not last!

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: Royal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k346k

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

Neighborhood: Royal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9532118

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,181
Property Tax -$636
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$222

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.

$340,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,8504$2,0005$2,600
$2,600
RENT COMPS ANALYSIS
  • 12 Red Oak Circle Hickory Creek, TX 3
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 24 Lakewood Drive Hickory Creek, TX 1
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1976
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 621 Lake Bridge Drive Lake Dallas, TX 2
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1998
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2221 Briary Trace Court Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1996
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 150 Highland Village Road Highland Village, TX 5
    • 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 1966
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Claudio Lovo
Texas Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519152
Last Updated: 02/19/2021
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