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125 Jason Drive Red Oak, TX 75154

4 Beds 2 Baths 1,596 sqft Built 1987

$260,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $162.91
  • 6 Days on Market
  • MLS # : 14452419
  • Updated Date : 11/05/2020 at 14:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Very nice home in Red Oak Texas with 4 bedroom 2 full bath on a half acre lot. This home features separate Dining room, and brick wood burning fireplace in living room. Kitchen has brand new stainless steel stove and dish washer. Home has been freshly painted through out and roof was replaced three years ago

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: Ridge Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Ridge Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9551734

* 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
Eastridge Elementary School Primary Regular 408 24 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Eastridge Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 24
7
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$234,000$286,000$260,000

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 -$959
Property Tax -$567
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
-$204

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.

$260,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,013

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
  • $1,556

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,6004$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 125 Jason Drive Red Oak, TX 1
    • 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.96
    •  
  • 206 Cobblestone Circle Red Oak, TX 2
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 959 E Ovilla Road Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1996
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 100 Dovehill Circle Red Oak, TX 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2004
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 330 Fox Hollow Drive Red Oak, TX 5
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
PROPERTY LISTING DETAILS
Luis Gonzalez
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14452419
Last Updated: 11/05/2020
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