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1459 Oates Drive Dallas, TX 75228

4 Beds 3 Baths 2,608 sqft Built 2015

$650,000

List Price

$3,380

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $249.23
  • 2 Days on Market
  • MLS # : 14471659
  • Updated Date : 11/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,608 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

New Leaf Custom Smart Home built in 2015 is situated on a deep .40 acre creek lot. Conveniently access lights, garage, HVAC & sprinkler system via Alexa or your smart phone. This home also enjoys a smart floor plan. Large master on first level offers a beautiful backyard view, while the first level guest room with full bath also serves as the perfect home office. Island kitchen includes all stainless appliances and gas range. Beautiful polished concrete floors throughout. 3rd & 4th bedroom upstairs along with a large 2nd living area. Only minutes from White Rock Lake and Casa Linda Plaza.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Casa Linda

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $102k332k

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

Neighborhood: Casa Linda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9472212

* 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
Reinhardt Elementary School Primary Regular 671 40 5
W.h. Gaston Middle School Middle Regular 1,086 70 4
Bryan Adams High School High Regular 1,939 118 4

Reinhardt Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 40
5
GreatSchools Rating

W.h. Gaston Middle School

  • Education Level: Middle
  • # of students: 1,086
  • # of teachers: 70
4
GreatSchools Rating

Bryan Adams High School

  • Education Level: High
  • # of students: 1,939
  • # of teachers: 118
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,380
EXPENSES Loan Payment -$2,398
Property Tax -$1,541
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
-$836

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.

$650,000

PROJECTED PRICE

$3,380

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,380

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $3,117

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,380
$3,380
RENT COMPS ANALYSIS
  • 1459 Oates Drive Dallas, TX 3
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $1.30
    •  
  • 8119 Barbaree Boulevard Dallas, TX 1
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.23
    •  
  • 2224 Forest Hollow Park Dallas, TX 2
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
PROPERTY LISTING DETAILS
Kim Hammond
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471659
Last Updated: 11/21/2020
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