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270 Double Oaks Drive Double Oak, TX 75077

4 Beds 3 Baths 3,116 sqft Built 1982

$650,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $208.60
  • 3 Days on Market
  • MLS # : 14514023
  • Updated Date : 02/19/2021 at 16:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,116 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

GOING LIVE ON FEB 19TH WITH SHOWINGS FROM 3-6PM AND FEB 20TH 1-5PM ONLY! Updated home in sought after Double Oak is ready for you to move in and live your best life. A corner lot, NO HOA, LOW taxes, gorgeous privacy fencing with sliding gate and diving pool with 2 covered patios. Inside offers Sunroom, all updated baths, renovated kitchen with granite, SS appliances including double ovens. Beautiful rich wood beams and many windows offer natural light and views of your backyard retreat. Seller added large outbuilding with two car garage, work area, boat or RV parking and separate space for office, gym or make it an apartment for additional living space. The home is ready for you to make your very own!

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: 75077

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k507k

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

Zip Code: 75077

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262977

* 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
Flower Mound Elementary School Primary Regular 499 35 9
Clayton Downing Middle School Middle Regular 606 50 9
Marcus High School High Regular 2,439 151 8

Flower Mound Elementary School

  • Education Level: Primary
  • # of students: 499
  • # of teachers: 35
9
GreatSchools Rating

Clayton Downing Middle School

  • Education Level: Middle
  • # of students: 606
  • # of teachers: 50
9
GreatSchools Rating

Marcus High School

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

$585,000$715,000$650,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,258
Property Tax -$1,009
Property Insurance -$207
Property Management Fees -$99
CASH FLOW
-$473

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.

$650,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.48%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,469

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,2504$3,850
$3,850
RENT COMPS ANALYSIS
  • 270 Double Oaks Drive Double Oak, TX 2
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 1982 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.99
    •  
  • 5109 Par Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 1999
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.04
    •  
  • 4012 Beacon Street Flower Mound, TX 3
    • 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 1999
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.06
    •  
  • 4124 Mustang Trail Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 1997
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.24
    •  
PROPERTY LISTING DETAILS
Tiffany Yost
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514023
Last Updated: 02/19/2021
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