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219 Quail Run Road Red Oak, TX 75154

4 Beds 2 Baths 2,049 sqft Built 2002

$235,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $114.69
  • 3 Days on Market
  • MLS # : 14464312
  • Updated Date : 11/06/2020 at 15:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,049 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

You’ll be ready to make this one home! The spacious open floor plan is exactly what you’ve been looking for in your next home. In addition to the great formal living and dining spaces you have a large eat in kitchen that opens into the family room, perfect for gatherings and family fun. Owner’s suite provides lots of privacy for you to relax in your jacuzzi tub and is separate from the other 3 roomy secondary bedrooms. Let’s not forget about the beautiful plantation shutters throughout the home. This one is a must see. Plenty of space in the backyard to enjoy family or create your own backyard oasis. This well maintained home is in a great subdivision, and has a neighborhood park.

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: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
Red Oak Elementary School Primary Regular 635 37 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Red Oak Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 37
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$211,500$258,500$235,000

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 -$867
Property Tax -$512
Property Insurance -$146
HOA -$15
Property Management Fees -$99
CASH FLOW
$361

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.

$235,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

11.75

YEARS SAVED

$49,791

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
  • $0.98

    LIST RENT PER SQFT
  • $1,977

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$1,9504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 219 Quail Run Road Red Oak, TX 4
    • 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 103 Harvest Hill Lane Red Oak, TX 1
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2006
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 603 Aspen Court Red Oak, TX 2
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 2008
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
  • 330 Fox Hollow Drive Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 123 Harvest Hill Lane Red Oak, TX 5
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kimberly Jackson
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464312
Last Updated: 11/06/2020
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