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2040 Oakbluff Drive Carrollton, TX 75007

3 Beds 2 Baths 2,190 sqft Built 1983

$368,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $168.04
  • 3 Days on Market
  • MLS # : 14515292
  • Updated Date : 02/13/2021 at 18:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,190 sqft
  • Baths : 2 full
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

Pride of ownership is evident in this beautiful 3 bedroom, 2 bathroom ranch style home with two living spaces. Kitchen features granite countertops and a breakfast bar. Bosch dishwasher added in 2020. Wood-look vinyl plank flooring and carpets updated in 2019. Roof replaced in 2018, HVAC system replaced in 2020, gas water heater replaced in 2019. Living area and master bedroom both open out to a beautiful backyard oasis. Sliding door in the master bedroom was recently replaced. Pebble Tec pool was resurfaced November 2020 and pool filter and gas heater were replaced within the last 7 years. The backyard is an entertainer's dream! Nearby walking trails and park make this home a gem.

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: High Country

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: High Country

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11102171

* 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
Homestead Elementary School Primary Regular 597 42 8
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Homestead Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 42
8
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$331,200$404,800$368,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,278
Property Tax -$672
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$203

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.

$368,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.9%
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-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,270

INVESTMENT

$103,270

Down Payment
$92,000
Rehab Estimate
$5,750
Closing Costs
$5,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,278

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,000
Loan Amount $276,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0004$2,0755$2,300
$2,300
RENT COMPS ANALYSIS
  • 2040 Oakbluff Drive Carrollton, TX 3
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 1944 Oakbluff Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1978
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 2022 Crestside Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 2022 Robin Hill Lane Carrollton, TX 4
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
  • 4107 High Sierra Drive Carrollton, TX 5
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1986
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Randi Dukes
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515292
Last Updated: 02/13/2021
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