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234 Sandy Way Red Oak, TX 75154

3 Beds 2 Baths 1,686 sqft Built 2015

$240,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $142.35
  • 3 Days on Market
  • MLS # : 14473916
  • Updated Date : 11/28/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,686 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

NO MORE SHOWINGS AFTER 6pm. ALL OFFERS DUE TONIGHT, SELLER WILL LOOK AT SUN 5 yr old John Houston Custom Home, original owner! Side entry garage makes for a cleaner looking elevation. No carpet! Wood burning fireplace in the open living area, with a spacious kitchen, undermount sink in the island & walk in pantry. The 2 secondary bedrooms & bath are in the front of living, kitchen area. Master in the back corner behind garage. Master bath has soaking tub & separate shower, dual sinks. Like new 10 x 12 storage barn in the backyard & pergola stay, dog kennel will be removed. Deck has lattice work fencing around it to keep dogs off, but could be removed. STAY ON DECK when viewing! Vivant Security system conveys

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
H.a. Wooden Elementary School Primary Regular 483 29 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

H.a. Wooden Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 29
7
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$886
Property Tax -$523
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$98

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.

$240,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.72%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$22,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,7304$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 234 Sandy Way Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.03
    •  
  • 129 Autumn Trail Red Oak, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 117 Autumn Trail Red Oak, TX 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 204 Winters Edge Drive Red Oak, TX 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2013
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 330 Fox Hollow Drive Red Oak, TX 5
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
PROPERTY LISTING DETAILS
Patti Patch
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473916
Last Updated: 11/28/2020
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