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1628 Oak Ridge Drive Corinth, TX 76210

4 Beds 4 Baths 4,153 sqft Built 1995

$675,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $162.53
  • 2 Days on Market
  • MLS # : 14485514
  • Updated Date : 12/20/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,153 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

WELCOME TO THIS EXQUISITE 4 BDRM 4 BATH HOME OVERLOOKING THE 9TH TEE! REGAL BEAUTY ABOUNDS AS YOU ENTER INTO THE GRACIOUS FOYER, FORMAL LIVING & DINING AND LIBRARY ALL EMBRACED BY SOARING CEILINGS! KITCHEN BOASTS GAS STOVETOP, GRANITE CNTRTOPS, COFFEE BAR & PANTRY, & ISLAND IDEAL FOR ANY CHEF! MAIN LIVING W ROCK FIREPLACE INVITES FAMILY & FRIENDS FOR A TIME OF GATHERING. OWNERS RETREAT W DUAL FP SERVING SITTING AREA & BDRM HAS SPACIOUS BATH W DUAL VANITIES, GARDEN TUB & SEPARATE SHOWER. LARGE SECONDARY BDRMS! UPSTAIRS LVNG SPACE OFFERS BALCONY WITH GORGEOUS SUNSETS! OUTDOORS IS A TRUE OASIS WITH POOL, SPA, ROCK WATERFALL, CUSTOM FIRE PIT, STONE PATIO,GAZEBO & PERGOLA IDEAL FOR ENTERTAINING ALL YEAR ROUND. HOME~

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MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Fairway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k451k

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

Neighborhood: Fairway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263097

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,490
Property Tax -$1,364
Property Insurance -$267
HOA -$50
Property Management Fees -$99
CASH FLOW
-$1,110

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.

$675,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,073

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$3,1003$3,160
$3,160
RENT COMPS ANALYSIS
  • 1628 Oak Ridge Drive Corinth, TX 3
    • 4 beds 4 baths ∙ 4,153 Sqft ∙ Built 1995 4 beds 4 baths ∙ 4,153 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $0.76
    •  
  • 1613 Glendora Court Denton, TX 1
    • 5 beds 4 baths ∙ 4,002 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,002 Sqft ∙ Built 2001
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.67
    •  
  • 1115 Ardglass Trail Corinth, TX 2
    • 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tammy Metzler
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485514
Last Updated: 12/20/2020
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