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123 Maverick Trail Oak Point, TX 75068

3 Beds 2 Baths 1,598 sqft Built 2004

$269,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $168.90
  • 3 Days on Market
  • MLS # : 14470630
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,598 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate

Listing Agent's Description

Wonderful ONE~OWNER 3 Bed~2 Bath~2 Car Garage Nestled on ONE-THIRD ACRE LOT with lots of trees and oversized garage! Established lake community with niche ammenities such as neighborhood boat ramp,parks,community pool,and club house! HOA dues only $72 Annually. Split bedroom floor plan with hardwood floor in living and ceramic tile in wet areas. Kitchen features granite countertops and SS appliances. Master bath with separate shower, jetted tub, plus huge walk~in~closet. Home has ample closet~linen storage and boasts natural lighting. Great location close to schools plus Denton~Frisco~Little Elm amenities such as restaurants,shopping,night life,hospitals,UNT,Hydrous Wake Park,professional sports,plus lots more!

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: Crescent Oaks Beach Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k316k

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

Neighborhood: Crescent Oaks Beach Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9022027

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$996
Property Tax -$537
Property Insurance -$120
HOA -$6
Property Management Fees -$99
CASH FLOW
-$217

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.

$269,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 14.0%
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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5403$1,5754$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 123 Maverick Trail Oak Point, TX 2
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.96
    •  
  • 617 Lamp Post Lane Oak Point, TX 1
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2002
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 1108 Cheyenne Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2015
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.98
    •  
  • 1209 Cheyenne Drive Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2016
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 8812 Cassidy Lane Aubrey, TX 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2017
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Joshua George
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470630
Last Updated: 11/13/2020
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