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120 Live Oak Lane Terrell, TX 75160

3 Beds 2 Baths 1,557 sqft Built 2005

$195,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $125.24
  • 6 Days on Market
  • MLS # : 14482899
  • Updated Date : 12/08/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 2 full
Listing Agent

Exit Realty Pro

Listing Agent's Description

MOVE-IN READY - 3B-2B with open concept kitchen, dining & living area, Kitchen has granite countertops. Home has had had recent upgrades over the last couple of years to include new double pane windows that open from the inside for easier cleaning, exterior doors, wood burning fireplace and upgraded light switches. Plenty of storage and one of the extra closets has been turned into a safe room for valuables.Home also features a large master with walk-in closets, fenced in backyard, sprinkler system front & back, 30 AMP RV hook-up and 2 car garage. Great Location, within walking distance to schools and short commute times to the metroplex

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: Town North Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Town North Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
J.w. Long Elementary School Primary Regular 624 37 4
Herman Furlough Jr. Middle School Middle Regular 593 41 4
Terrell High School High Regular 1,087 79 3

J.w. Long Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 37
4
GreatSchools Rating

Herman Furlough Jr. Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 41
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$719
Property Tax -$502
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
-$28

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.

$195,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4853$1,4954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 120 Live Oak Lane Terrell, TX 1
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.91
    •  
  • 1822 Willowbrook Drive Terrell, TX 2
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2013
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.00
    •  
  • 219 Meadowcrest Drive Terrell, TX 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2015
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 106 Brushy Creek Lane Terrell, TX 4
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2006
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 109 Oakcrest Circle Terrell, TX 5
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2015
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Shannon Humphrey
Exit Realty Pro
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482899
Last Updated: 12/08/2020
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