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1313 Oak Timber Drive Euless, TX 76039

3 Beds 2 Baths 2,069 sqft Built 1983

INVESTimate

$349,000

List Price

$2,030

$1,827 - $2,233

Rent Est.

$379,468  ( +8.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $168.68
  • 4 Days on Market
  • MLS # : 14419207
  • Updated Date : 08/23/2020 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,069 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Located in the heart of DFW you will find this one of a kind gem on .60 acres. Behind the pool, through the wooden gate is your lot that has a private drive from Shelmar Dr. has lots of room to build. Go on vacation in this landscaped back yard has a lush array of vegetation and privacy. Private screened patio, dry rock bed, Jacuzzi, 2 storage sheds & more. 1st one has electric and air conditioning 12 x 16 feet! The second one is almost as big with electric. Split bedrooms with open concept living looking out onto the lush backyard. Screened in patio makes a great space to hang out anytime. HVAC and windows are approx 5 yrs. Radiant barrier attic. Recently painted throughout the interior. Granite kit.

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: Timber Ridge Euless

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k289k

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

Neighborhood: Timber Ridge Euless

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452099

* 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
Lakewood Elementary School Primary Regular 713 39 6
Euless Junior High School Middle Regular 1,024 57 8
Euless Junior High School High Regular 1,024 57 8

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 39
6
GreatSchools Rating

Euless Junior High School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating

Euless Junior High School

  • Education Level: High
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

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$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,288
Property Tax -$678
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$181

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.

$349,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.73%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$2,0303$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1313 Oak Timber Drive Euless, TX 2
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.98
    •  
  • 3708 Pinewood Street Bedford, TX 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1980
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 900 Spring Oak Court Euless, TX 3
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1981
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 4000 Double Oak Drive Bedford, TX 4
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 302 Shelmar Drive Euless, TX 5
    • 3 beds 4 baths ∙ 2,083 Sqft ∙ Built 1973 3 beds 4 baths ∙ 2,083 Sqft ∙ Built 1973
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
PROPERTY LISTING DETAILS
Holly Jacobs
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419207
Last Updated: 08/23/2020
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