Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1640 Overcup Lane Keller, TX 76248

4 Beds 2 Baths 2,576 sqft Built 1998

$349,500

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $135.68
  • 4 Days on Market
  • MLS # : 14497055
  • Updated Date : 01/14/2021 at 09:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,576 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Keller

Listing Agent's Description

Beautiful 1 story home in the popular Chase Oaks subdivision of Keller. Enjoy the comfortable living area with a lovely fireplace for any cold days ahead. Plenty of food prep area in the large kitchen that also has lots of storage. Home has two living areas and 2 dining areas, in addition to 4 bedrooms. The owner's retreat is at the back of the home, separate from the other bedrooms. The other three bedrooms and secondary bath are on the other side of the home, and are all a good size. One bedroom is currently being used as an office. The backyard with a patio is inviting and has plenty of room for playing. This sought after neighborhood features wonderful walking trails with a park and playground.

SEE MORE

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: Chase Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Chase Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$314,550$384,450$349,500

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,214
Property Tax -$733
Property Insurance -$176
HOA -$17
Property Management Fees -$99
CASH FLOW
$260

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.

$349,500

PROJECTED PRICE

$2,500

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,368

INVESTMENT

$98,368

Down Payment
$87,375
Rehab Estimate
$5,750
Closing Costs
$5,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,375
Loan Amount $262,125
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$37,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,351

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,3853$2,3954$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1640 Overcup Lane Keller, TX 4
    • 4 beds 2 baths ∙ 2,576 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,576 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
  • 406 Alta Ridge Drive Keller, TX 1
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1998
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 637 Cottonwood Trail Keller, TX 2
    • 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,385
    • $0.93
    •  
  • 620 Shady Bridge Lane Keller, TX 3
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
  • 914 Rush Creek Road Keller, TX 5
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1991
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Julie Cash
Jp And Associates Keller
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497055
Last Updated: 01/14/2021
BESbswy