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

253 Oak Street Highland Village, TX 75077

4 Beds 2 Baths 1,883 sqft Built 1983

$349,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $185.82
  • 3 Days on Market
  • MLS # : 14483879
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,883 sqft
  • Baths : 2 full
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

Everything in this home has been done for you! Completely updated and ready for you to make it yours! This home sits on almost half an acre. Outside you will find your own private oasis! A beautifully landscaped backyard, large patio with a heated pool complete with a turbo twister slide! Inside you will find four split bedrooms and tile through out the entire home. Master bedroom over looks the back yard and pool with access to backyard from bedroom. New energy efficient windows throughout, new light fixtures and fresh paint, quartz countertops, energy star appliances. As you drive up you will notice the extra long drive way, complete with an oversized garage. This is a must see!

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: Lakewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262235

* 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
Mcauliffe Elementary School Primary Regular 520 37 9
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 37
9
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,291
Property Tax -$640
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$246

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

$1,920

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,958

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9004$1,9205$1,950
$1,950
RENT COMPS ANALYSIS
  • 253 Oak Street Highland Village, TX 4
    • 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.02
    •  
  • 108 Woodland Drive Highland Village, TX 1
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1974
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.05
    •  
  • 102 Highland Lake Drive Highland Village, TX 2
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1975
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 1529 Steamboat Trail Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2002
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 248 Greensprings Street Highland Village, TX 5
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1983
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Desiree Moellenkamp
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483879
Last Updated: 12/11/2020
BESbswy