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1322 Black Oak Drive Carrollton, TX 75007

4 Beds 3 Baths 2,565 sqft Built 1992

INVESTimate

$374,999

List Price

$2,280

$2,052 - $2,508

Rent Est.

$406,499  ( +8.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $146.20
  • 7 Days on Market
  • MLS # : 14415951
  • Updated Date : 08/20/2020 at 08:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,565 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous two story traditional home situated in an established North Carrollton neighborhood. Once inside you'll be greeted by an inviting living area highlighted by a warm gas fireplace and beautiful, wood-look floors. The updated kitchen offers granite counter-tops, stainless appliances, tumbled stone back-splash and plenty of space to prepare meals. Flex space next to kitchen could be used as a study or play room. Upstairs you'll find a spacious owner's retreat with a walk-in closet, his & her sinks, jetted tub and separate shower. Enjoy your private backyard with BOB fence and covered patio for additional entertainment space. Excellent location within minutes to several highways and parks. Welcome home!

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: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11112171

* 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
Polser Elementary School Primary Regular 466 31 5
Creek Valley Middle School Middle Regular 795 52 7
Hebron High School High Regular 2,458 138 7

Polser Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 31
5
GreatSchools Rating

Creek Valley Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 52
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$337,499$412,499$374,999

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,384
Property Tax -$685
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
-$63

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.

$374,999

PROJECTED PRICE

$2,280

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,249
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,373

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,1953$2,2504$2,2805$2,350
$2,350
RENT COMPS ANALYSIS
  • 1322 Black Oak Drive Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.89
    •  
  • 1312 Black Oak Drive Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 1986
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.90
    •  
  • 4213 Capstone Drive Carrollton, TX 2
    • 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1988
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 1052 E Seminole Trail Carrollton, TX 3
    • 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 1998
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 4225 Capstone Drive Carrollton, TX 5
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1990
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
Darby Merriman
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415951
Last Updated: 08/20/2020
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