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

213 Oakmont Drive Trophy Club, TX 76262

3 Beds 2 Baths 2,512 sqft Built 1980

$440,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $175.16
  • 3 Days on Market
  • MLS # : 14509291
  • Updated Date : 02/12/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,512 sqft
  • Baths : 2 full
Listing Agent

Scottco Realty Group Llc

Listing Agent's Description

Spectacular three bedroom two bath home featuring a pool and spa.  Gourmet eat-in kitchen with granite countertops, built-in ovens, beautiful cabinetry, and plenty of counter space.  Formal living and dining. Secondary living room or game room overlooking the pool.  Wet bar!  Split bedrooms.  Enjoy the evenings outside in your very own backyard getaway.

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: Trophy Club Oak Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k493k

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

Neighborhood: Trophy Club Oak Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263169

* 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
Lakeview Elementary School Primary Regular 571 35 7
Medlin Middle School Middle Regular 1,078 65 8
Byron Nelson High School High Unknown NA

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 35
7
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,528
Property Tax -$835
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$25

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.

$440,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$22,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,726

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5003$2,6604$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 213 Oakmont Drive Trophy Club, TX 3
    • 3 beds 2 baths ∙ 2,512 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,512 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.06
    •  
  • 111 Creek Courts Drive Trophy Club, TX 1
    • 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 1978
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 972 Trophy Club Drive Trophy Club, TX 2
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1979
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 312 Lakewood Drive Trophy Club, TX 4
    • 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.15
    •  
  • 3 Meadow Creek Court Trophy Club, TX 5
    • 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 1980
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.20
    •  
PROPERTY LISTING DETAILS
Autumn Scott
Scottco Realty Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509291
Last Updated: 02/12/2021
BESbswy