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242 Southview Drive Hudson Oaks, TX 76087

3 Beds 2 Baths 1,884 sqft Built 1987

$330,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $175.16
  • 3 Days on Market
  • MLS # : 14504458
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Updated home with a pool deep in Diamond Oaks. Kitchen has Bosch double oven (1 is convection), Bosch dishwasher & GE microwave & cooktop with downdraft vent. Open deck above the garage is accessed from the breakfast area. Living room has a beamed ceiling, 2 large built in bookcases & large brick hearth with glass doors & woodburning fireplace. Sunroom looks out over a long concrete patio (31 X 13 covered & 25 X 8 open), pool with spa & a heavily treed private back yard. Spacious dog run on North side of home. Downstairs garage is accessed by a door in the utility room. Garage has storage behind the wooden double doors on the West interior wall. Lennox HVAC system installed in 2019. Fridge 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: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k392k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262325

* 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
Bose Ikard Elementary School Primary Regular 662 45 4
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6

Bose Ikard Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 45
4
GreatSchools Rating

Tison Middle School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 39
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,146
Property Tax -$595
Property Insurance -$136
HOA -$2
Property Management Fees -$99
CASH FLOW
$142

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.

$330,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$27,656

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$2,1004$2,120
$2,120
RENT COMPS ANALYSIS
  • 242 Southview Drive Hudson Oaks, TX 4
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.13
    •  
  • 1003 Newell Drive Hudson Oaks, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1972
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.08
    •  
  • 104 Raven Bend Hudson Oaks, TX 2
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.08
    •  
  • 180 Annetta Road Willow Park, TX 3
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1984
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Todd Limbocker
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504458
Last Updated: 01/22/2021
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