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2306 Owens Boulevard Richardson, TX 75082

3 Beds 2 Baths 1,968 sqft Built 1980

$349,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $177.79
  • 4 Days on Market
  • MLS # : 14509702
  • Updated Date : 02/25/2021 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,968 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Beautiful RISD home with tall trees. See list for extensive renovations throughout! Since July, 2019: Walls removed provide a beautiful open concept floor plan, flooring added from wood to carpet, premium kitchen granite and tile, walk-in shower in master bath, renovated bathrooms with countertops, sinks and cabinets, interior paint throughout. Vaulted ceiling and wood burning fireplace in living area. Second living area with closet could be 4th bedroom. Roof done 2018. Double pane windows 2009. Foundation inspected; recommended French drains, done 2019. Backyard patio has gas service for grilling. Quiet neighborhood with bike trails, parks and golf course steps from the front door. LOOK AT LIST OF RENOVATIONS

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: Woodcreek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k382k

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

Neighborhood: Woodcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Apollo Junior High School Middle Regular 642 42 7
Berkner High School High Regular 2,494 174 4
Apollo Junior High School Middle Unknown NA

Apollo Junior High School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 42
7
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating

Apollo Junior High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,215
Property Tax -$817
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$422

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.

$349,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$75

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8954$2,0995$2,300
$2,300
RENT COMPS ANALYSIS
  • 2306 Owens Boulevard Richardson, TX 2
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 2329 Woodglen Drive Richardson, TX 1
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1980
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 1723 Carol Stream Drive Richardson, TX 3
    • 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1974 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1974
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 1916 Forestdale Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 1975
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.99
    •  
  • 1702 Yorkshire Drive Richardson, TX 5
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1975
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Gary Carter
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509702
Last Updated: 02/25/2021
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