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1806 Silver Oak Drive Gainesville, TX 76240

4 Beds 2 Baths 1,879 sqft Built 2017

$255,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $135.71
  • 4 Days on Market
  • MLS # : 14490001
  • Updated Date : 12/24/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,879 sqft
  • Baths : 2 full
Listing Agent

Farmersville Real Estate Company

Listing Agent's Description

You will not find a more charming home with so much character in all of Cooke County! Home has an exceptional layout with an open kitchen perfect for entertaining, split bedrooms, updated flooring throughout, a covered back porch and so much more! Neighborhood has a community pool perfect for cooling off on those hot summer days.Home qualifies for USDA financing with $0 down payment!!

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: 76240

ZipNIR Market*CityMarket20102015Year2006201980k90k100k110k120k130k140k150k160kPrice in $74k167k

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

Zip Code: 76240

No Data Available.

* 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
Robert E Lee Intermediate School Primary Regular 449 30 3
Gainesville Middle School Middle Regular 391 29 5
Gainesville High School High Regular 719 55 3

Robert E Lee Intermediate School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 30
3
GreatSchools Rating

Gainesville Middle School

  • Education Level: Middle
  • # of students: 391
  • # of teachers: 29
5
GreatSchools Rating

Gainesville High School

  • Education Level: High
  • # of students: 719
  • # of teachers: 55
3
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$941
Property Tax -$564
Property Insurance -$132
HOA -$25
Property Management Fees -$99
CASH FLOW
$49

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.

$255,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,762

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,6504$1,6755$1,810
$1,810
RENT COMPS ANALYSIS
  • 1806 Silver Oak Drive Gainesville, TX 5
    • 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.96
    •  
  • 1403 S Howeth Street Gainesville, TX 1
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2003
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 211 Candlewood Circle Gainesville, TX 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 1123 Vintage Avenue Gainesville, TX 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2020
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 3502 Columbus Street Gainesville, TX 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2014
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jennifer Rodgers
Farmersville Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490001
Last Updated: 12/24/2020
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