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147 Oak Bend Drive Red Oak, TX 75154

3 Beds 2 Baths 2,240 sqft Built 2017

$309,999

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $138.39
  • 3 Days on Market
  • MLS # : 14523303
  • Updated Date : 02/26/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,240 sqft
  • Baths : 2 full
Listing Agent

Rj Williams & Company Re Llc

Listing Agent's Description

No HOA! Amazing space & features on this single story, First TX home. Only 3 years-old! Dozens of upgrades: enlarged owner bath suite, barn doors in owner's suite & office, large backyard w pergola and extended patio, outdoor storage shed. Dream kitchen with 7-foot California Island, double ovens, pot filler, walk-in pantry. Owner willing to allow nearly new fridge, washer, dryer to remain (see non-realty sale addendum). Built in window seat in breakfast nook. Smart home technology wired system remain. Epoxy floors in garage. Flex room features french doors creating a variety of possible options for use as a: formal dining area, study or 4th bedroom. Owner suite has an extra work space. Buyer Verify All Info

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $89k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
Malakoff High School High Regular 320 32 6

Malakoff High School

  • Education Level: High
  • # of students: 320
  • # of teachers: 32
6
GreatSchools Rating
 

$278,999$340,999$309,999

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,077
Property Tax -$676
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$498

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.

$309,999

PROJECTED PRICE

$1,510

PROJECTED RENT

0.49%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,499
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,094

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$2,1003$2,1504$2,1955$2,195
$2,195
RENT COMPS ANALYSIS
  • 147 Oak Bend Drive Red Oak, TX 1
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.67
    •  
  • 123 Harvest Hill Lane Red Oak, TX 2
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 124 High Meadow Road Red Oak, TX 3
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2006
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 230 Bob White Drive Red Oak, TX 4
    • 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2012
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
  • 300 Sunrise Lane Red Oak, TX 5
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2006
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Natoya Alee
Rj Williams & Company Re Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523303
Last Updated: 02/26/2021
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