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1502 Oak Park Lane Cedar Hill, TX 75104

4 Beds 2 Baths 2,019 sqft Built 2015

$270,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $133.73
  • 3 Days on Market
  • MLS # : 14469631
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,019 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Perfect corner lot that doesn't sit right on the road. Enjoy your wood floors, upgraded back porch, stone fireplace, and open floor plan just in time for the holiday season! Well maintained for you to be able to move in and feel right at home while enjoying your water softener already installed in the 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: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k259k

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

Neighborhood: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452047

* 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
Plummer Elementary School Primary Regular 521 28 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Plummer Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 28
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$996
Property Tax -$614
Property Insurance -$144
HOA -$44
Property Management Fees -$99
CASH FLOW
-$57

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.

$270,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8004$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 1502 Oak Park Lane Cedar Hill, TX 4
    • 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 1610 Forest Creek Drive Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.87
    •  
  • 1722 Chadwick Court Cedar Hill, TX 2
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1710 Chadwick Court Cedar Hill, TX 3
    • 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 2007
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 1505 Willow Lane Cedar Hill, TX 5
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2005
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Brent Germany
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469631
Last Updated: 11/13/2020
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